What does the future hold for young people?

Street League held their second digital event this week – ‘What the future holds for young people’. The Resolution Foundation shared their research with us about the long-term impact of this economic crisis for young people, and we heard from staff and young people across a range of Street League programmes what this meant for them and their plans for the future.

To start the event, we were joined by Maja Gustafsson, a researcher from the Resolution Foundation - an independent think-tank focused on improving the living standards for those on low to middle income. Maja shared the Foundation’s latest research on the impact of the current crisis on young people and their long-term career prospects:

  • 18-24 year olds have seen less pay during lockdown than those who are older and more established in the job market.
  • Young people are the least likely to be able to work from home, and more likely to work in less secure employment including temporary work and zero hour positions. These are the kind of workers that employers let go of first.
  • In a crisis, finding work becomes even harder – there’s fewer jobs, so the chances of gaining employment are reduced.
  • When people left education during the lockdown period, the sectors that tend to employ young people were the ones closed. In the first few years, these sectors are very important as the first steps in people’s careers.
  • Short spells of unemployment increase your chances of being unemployed in the future - if there is an economic crisis early on in someone’s career it is more likely that there will be unemployment and long-term scarring.
  • People with degrees see a sooner recovery, whereas young people with lower level qualifications see a longer impact and we see a scarring even 10 years later.
  • For every 10 people who would have found employment leaving school in economically ‘healthy’ years, only 6 will find employment during this crisis.

You can hear more from Maja and watch the event on our youtube channel.

We have been blown away by the number of supporters who have been keen to hear about our work during this crisis and the incredible young people we are working with. As we heard during this event, youth unemployment is reaching a crisis point and 2021 will see Street League being more needed than ever. We would love the opportunity to meet with you for a virtual coffee, to hear your thoughts and explore ways we can work together to support young people. If you would like to chat to a member of the team, please contact Georgia at [email protected].

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