Member Article

Excluded youth costs North East millions

A jobless generation of young people is costing the North East millions in lost productivity and crime, according to a joint report published yesterday by The Prince’s Trust and The Royal Bank of Scotland Group (RBS). The Cost of Exclusion warns that youth unemployment is costing the North East’s economy almost £4 million a week in lost productivity. The report, based on research conducted by the Centre for Economic Performance, London School of Economics, also reveals that youth crime is costing the North East £83 million every year while educational underachievement costs over £945 million in lost earnings.

David Beavis, North East Regional Director, The Prince’s Trust, said: “Almost one in five young people are out of work, education or training. Only by helping young people in the North East develop new skills and get back into work can we make a real investment in our region.”

The report recommends that more investment is needed to help young people in the North East’s deprived communities who are not in employment, education or training. It argues that helping young people gain the key skills to find work represents value for money given the measurable costs of social exclusion.

David Fenton, RBS Economist, said: ““A strong economy and low unemployment continue to mask the true cost of youth exclusion. With the right support, this lost generation can make a significant contribution to the health of the UK economy.”

The Prince’s Trust helped more than 4,000 young people in the North East gain skills and find work last year. The youth charity works with 14- to 30-year-olds who have struggled at school, have been in care, are long-term unemployed or have been in trouble with the law. For more information, visit www.princes-trust.org.uk.

This was posted in Bdaily's Members' News section by Ruth Mitchell .