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"Lost generation" could incur high debt risks

"Lost generation" could incur high debt risks

- Friday, 17 July 2009

Young people in the UK have suffered the most as a result of the recession, according to the Institute for Employment Studies (IES).

Figures released by the Office of National Statistics (ONS) earlier this week state that unemployment among education-leavers is at its highest since 1997.

While those leaving higher education facilities are suggested to be safe in the long-run, it is Britain's unskilled labour force that is of concern, says the IES.

It is arguably this demographic that run the greatest risk of requiring debt management help in the future.

Thomas Usher, research fellow at the Institute for Employment Studies, said: "The young have unambiguously been the largest category of losers in this recession.

"More generally, all those with low skills and little experience have found it very hard to compete in this tough labour market."

He went on to say that those most likely to struggle to secure jobs risked becoming part of a "lost generation".

Mr Usher said that people should pursue education to the highest possible level in order to bolster their employability.

Britain saw its largest quarterly rise in unemployment since 1981, according to the ONS.ADNFCR-2300-ID-19269986-ADNFCR
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