Young People's Financial Struggles: A Bleak Future?

Todays episode delves into the financial struggles of young people, exacerbated by recent budget decisions. Unemployment rates have surged, particularly among those aged sixteen to twenty-four, with a staggering fifteen point three percent jobless rate. Additionally, nearly one million young people are NEETs, and traditional entry-level jobs are dwindling due to rising business costs. The budgets measures, while including fully funded apprenticeships, are deemed insufficient. The minimum wage increase, new workers rights, and National Insurance rises are pricing young people out of the job market. Young professionals are also grappling with higher tax brackets and AI replacing entry-level work. The future looks bleak, with increasing debt and a shrinking job market, potentially trapping todays twenty-somethings in a cycle of financial hardship.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.