World Economic outlook - UK youth unemployment rate forecast 2012 : Youth unemployment in the UK has reached "emergency point" and could cost as much as £28bn by 2022, an inquiry led by Labour MP David Miliband has warned.
A report by the Commission on Youth Unemployment, published on Monday, says youth unemployment is the biggest challenge facing Britain and a "time bomb" for the public finances.
The hotpots, where the proportion of young people claiming Jobseekers Allowance is at least double the national average, include major hubs such as Birmingham, Manchester and Liverpool, as well as Coventry, Derby, Hartlepool, Glasgow and Swindon.
The research, commissioned by the Association of Chief Executives of Voluntary Organisations (ACEVO), estimates current levels of youth unemployment will cost the public purse at least £4.8bn in 2012 and a potential £28bn by 2022.
The report makes a series of recommendations for addressing the problem, including a scheme whereby young people in work mentor their contemporaries who are out of work.
The findings coincide with start of this year's National Apprenticeship Week and came as it was revealed that the Co-operative Group has received 64,000 internet enquiries from under-25s for its apprenticeship scheme since it began in May last year.
The firm, which has businesses in food, financial services, pharmacy, funerals and travel, recruited 400 apprentices last year and has doubled the number to 800 this year. Source http://news.sky.com/home/business/article/16164051
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