Azernews.Az

By Alimat Aliyeva

The UK loses around £125 billion a year because of young people who are not in employment, education, or vocational training, AzerNEWS reports.

According to the publication, around 1 million young people in the country currently fall into this category, often referred to as “NEETs” — young people who are not in education, employment, or training. Many of them grew up during the aftermath of the 2008 financial crisis and the coronavirus pandemic. Today, they are facing new challenges, including rising living costs, cuts to public services, and changes in the labour market driven by the rapid development of artificial intelligence.

At the same time, government spending on youth services has fallen by £1.3 billion, or 76%. Thousands of youth clubs have closed across the country, while many youth workers have left the profession.

As The Guardian notes, the authorities often spend more money dealing with the consequences of social problems than preventing them in the first place. For example, for every pound invested in helping young people find employment, around £25 is spent on benefits.

Experts warn that if the situation does not improve, the economic cost could continue to grow. Young people who remain outside education and employment for long periods may find it increasingly difficult to develop professional skills and enter the labour market.

The issue is particularly important as the UK prepares for a labour market increasingly influenced by artificial intelligence. Without adequate education, training, and support, a significant number of young people could struggle to adapt to the jobs of the future.