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Business - Essay Example

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A specific economic problem currently affecting UK The topic that I have chosen is unemployment of youth (teenagers and young adults between 16 -24 years) across United Kingdom. It should be highlighted that UK’s economy was adversely impacted due to worst recession of 2008 - 2009, which led to the significant decline in aggregate consumption…
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Download file to see previous pages... Youth unemployment has a significant impact on society because teenagers tend to finance not only their personal expenditures and family but also their educational expenses. Therefore, unemployment compels youths to put a halt to their academic life, which later creates problems in finding high-paid jobs and career advancement in future. UK unemployment figures peaked in 2009 when around one million or 20% youths became unemployed after retrenchment policies of domestic and multinational corporations (Telegraph Article, 2009). It is worthwhile to mention the fact that employment discrimination also became evident across UK when research results compiled by a credible think tank named ‘The left-leaning Institute for Public Policy Research’ confirmed that 50% of black youths were found unemployed in comparison to only 20% of white youths (BBC Article, 2010). As far as the solutions to youth unemployment are concerned, it is worth mentioning that government authorities should announce special internship / apprenticeship programmes for youth workers (with at least high school education) and fresh graduates so that they could obtain practical work experience and insight over what they have learned during their academic life (Allen, 2010). ...Download file to see next pagesRead More
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