Ten-year low for youth unemployment

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More young people are developing the skills to be successful in the world of business

Businesses up and down the country have helped to play a crucial role in delivering the lowest level of youth unemployment for more than the last ten years.

The latest figures from the Department for Business, Innovation and Skills (BIS) have shown the number of young people not in education, employment or training (NEET) in England is now at a level not seen since records began in 2001.

Overall, the number of 16 to 24-year-olds classed as NEET has fallen by 174,000 since 2010 and sees more than nine out of ten people in this age range now in some form of employment, education or training - a resounding success in terms of helping young people to build the skills needed to succeed in the world of work.

Responding to the announcement, skills minister Nick Boles said: "These record low rates of young people not in employment, education or training demonstrate that our economic plan is working.

"No young person should be left without the opportunity of a regular wage and high-quality training, that's why we will create three million new apprenticeships over the next five years."

Businesses up and down the country are therefore being encouraged to take on more young staff members, as these individuals offer a wide range of benefits for companies in all fields.

Firms that take an active stance on providing more opportunities for young people will often receive a number of advantages, including increased staff loyalty, workers that have been trained specifically to meet the needs of that individual company and greater flexibility to meet changing demands in HR.

Overall, UK employment now stands at an all-time high of 73.5 per cent and demonstrates how ongoing efforts to bolster accessibility to schemes like apprenticeship programmes, internships and on-the-job training are having a positive impact across the nation.

The government has now announced a further £7 billion will be invested into the delivery of more education and training places for 16 to 19-year-olds across the UK in the next 12 months, while BIS has stated it will continue to target its support on those young people who presently demonstrate low-level skills.

Encouraging more young people to develop the skills necessary to succeed in their chosen career path is essential for delivering the next generation of professionals and key services providers that will help to ensure a lasting economic recovery for the country as a whole.

According to the latest BIS data, a total of 748,400 19 to 24-year-olds were able to participate in skills development programmes during the 2013-14 academic year as a result of ongoing government funding and support.