With the government currently looking to the over-50s to boost labour supply, there are calls for a broader strategy that will consider all age groups.
This comes from the CIPD after its research has revealed that almost one million young people have been lost from the labour market over the last 30 years.
According to the analysis, there are more 16-24-year-olds who are not working but would like to work, than those aged between 50-64, despite the over-50s being the current focus of government policy.
Jon Boys, senior labour market economist for the CIPD, commented, “There are multiple challenges currently facing the UK labour market, including our ageing population, the impact of technology on jobs, and changes to immigration rules and patterns.
“These are only going to become more acute, so it’s critical that the government develops a clear strategy to boost labour market participation and reduce inactivity across all age groups.
“This will require changes to policy on skills, occupational health access and support and a renewed focus on creating more flexible, high-quality and productive jobs across the economy.
“As our analysis shows, it’s important that the current focus on addressing the decline of over-50s in employment doesn’t obscure the need and opportunity to get more young people into work. While the extension of higher education opportunities has had significant benefits, the evidence suggests there’s also a need for better vocational routes into employment to provide a viable alternative to the degree route.”
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