Ask any young person this question and they will tell you that the price they are paying is extremely high. Since the UK decide to start the process of our exit from the European youth unemployment has increase to 11.9% of people aged 16-24 and fears that Brexit uncertainty will weaken jobs market even more.
Official figures show 14,000 rise in the numbers of #NEETs in July-Sept 2016, lifting the number of NEETs in the UK to 857,000 compared with previous 3 months http://ow.ly/MVZW306tZw6 That was an increase of 14,000 from the previous three months and up 3,000 from a year earlier.
Looking across Europe the economic cost of not integrating NEETs is estimated at over €150 billion, or 1.2% of GDP. Some countries, such as Bulgaria, Cyprus, Greece, Hungary, Ireland, Italy, Latvia and Poland are paying 2% or more of their GDP.
The economic cost is not the only one. Young people not in employment, education or training are at higher risk of being socially and politically alienated. They have a lower level of interest and engagement in politics and lower levels of trust. Even in those countries where NEETs are more politically engaged (such as Spain) they do not identify with the main actors.
EU Member States have tried a number of measures to prevent young people from becoming NEET and to reintegrate those who are NEETs. The involvement of a range of stakeholders in the design and delivery of youth employment measures is essential. In particular, a strong level of engagement with employers and their representatives is needed for measures that focus on fostering their beneficiaries’ employability. Successful policies are innovative. They introduce new ways of reaching out to their target groups, with outreach activities forming an important part of efforts to engage disfranchised young people, while incentives, ‘branding’ and marketing campaigns can be useful in the context of more universal youth employment services.