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Debt advice could help young people cope with 'scarring' recession

Debt advice could help young people cope with 'scarring' recession

- Tuesday, 25 August 2009

The Confederation of British Industry (CBI) yesterday (August 24th) called for the government to redirect some of its £500 million recruitment subsidy into apprenticeship schemes.

Those who are currently not benefitting from government schemes and are struggling financially could find speaking to a debt advice specialist of help.

It has been suggested that £125 million of the current subsidy could be used to fund 50,000 new jobs and help curb youth unemployment, which the CBI believes is reaching "unacceptable levels".

An increase in the number of apprenticeships on offer would help improve young peoples' job prospects, which are believed to be the "toughest … in a generation".

Richard Lambert, CBI director-general, said: "Young people are being hardest hit by unemployment, and the government must increase the opportunities available to limit its scarring effects.

"Business also needs to support young people by offering more apprenticeships, internships, work experience and mentoring opportunities."

According to the Office for National Statistics, unemployment rose to 2.4 million earlier this month.
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