The Guardian: UK loses £125 billion a year due to young people who are not working or studying

Around £125 billion a year is the cost to the United Kingdom of young people who are not in employment, education or training.

According to Report, The Guardian writes that around 1 million young people in the country currently fall into the NEET category - those not in employment, education or training.

According to the newspaper, many of them grew up during the aftermath of the 2008 financial crisis and the COVID-19 pandemic and are now facing a rising cost of living, cuts to public services and changes in the labor market driven by the development of artificial intelligence.

At the same time, UK spending on youth services has fallen by £1.3 billion, or 76%. Thousands of youth clubs have closed across the country, while many social workers have left their positions.

The Guardian notes that authorities prefer to spend money addressing the consequences of problems rather than preventing them. For every £1 spent on helping young people find employment, £25 is spent on benefits.

According to the newspaper, government spending will continue to rise unless authorities succeed in getting young people back into work and education.