I read this interesting article recently in CapX about how Generation Y are facing an uncertain future and no-one is really looking out for them. As the father of a 19 year old, this is particularly worrying.
Britain has a long history of young people achieving more than their parents. Unfortunately, many young people today do not share that hope. The key to reviving it is not only more economic growth and less spending, but a way of evaluating effects of new policies on Generation Y, those born between 1980 and 2000.
What is proposed is an Office for Inter-Generational Responsibility to;
assess the effects of new policies on the young, Generation Y.
The article points to some worrying trends in prospects for teens and twenties today;
Young people aged 16 to 24 are nearly three times more likely to be unemployed than the rest of the population, the largest gap in more than 20 years. Their unemployment rate is 16 percent, according to the Office of National Statistics, compared with an average unemployment rate of 5.5 percent. In 2005 the youth unemployment rate was 11 percent.
The only thing I can say here is thank goodness we’re not part of the Eurozone – youth unemployment in Spain is 57%, Poland 27%, Portugal 38%, Italy 40%, Greece 58%.
It’s certainly true that the outlook for the current teens and twenties is very different from my day – maybe this is one way of ensuring that their future is taken into consideration.