Mar 2010 18

Credit Crunched 1

Posted In Features

Credit Crunch squeezes young men out of jobs

Okay, we have heard all about bankers, pensions and the price of houses. But what is the impact of the credit crunch on young people? It’s bad. It could mean that you don’t have a job or that if you do have a job then you’ve more chance of losing it.

The statistics tell the story. Nearly 20% of those aged 16-25 are unemployed. And in the last year nearly half of those people who lost their jobs were under 25. This leaves nearly one million young people who are not in education, training or employment – bad news. So bad in fact, that the media now calls you ‘NEETs’ (not in education, employment or training).

Why have young people been hit so hard? Firstly, with so many people chasing so few jobs employers can pick those with the most experience and training – most young people just haven’t had the time or opportunity to get either. Secondly, those young people who do have jobs can fall victim to a ‘last in first out policy’ as companies make redundancies in a desperate bid to save money. Thirdly, the big employers have tried to save money by cutting-back on all their training schemes – so there is no way for young people to get a first chance at developing new skills. And finally we know that over the last 20 years or so a lot of the jobs that went to young people who had left school without qualifications have disappeared – such as apprenticeships, construction work and heavy industry.

So what happens while you wait for the economy to change? You could just get depressed, angry, bored and frustrated. No job = no power, no money, no control and no self-esteem. How do you prevent this from grinding you down?

Perhaps you have to get very creative and focussed about your job hunting….. find some training even if its not quite what you wanted……make sure that job centre staff DO give you proper advice and help. Maybe you look at doing more exercise/ sport to work off your stress? And if you are feeling very stressed and down do look at some of the pages on this website to find tips on managing depression, anxiety and anger.

And what about volunteering? This is often ignored. It’s a good way to get work experience, to give some structure to your day, to develop some skills and self-confidence, and feel that you are doing something worthwhile. And you should get your expenses paid and maybe a free lunch. Employers are impressed by young people who have made the effort to do this. Check out the volunteering websites at the bottom to see if there’s something out there that interests you. We’ve also added some links which offer information and advice on finding jobs, training and general support for young people.

Have you got any good advice on how to survive the credit crunch?

Tell us what you think ….How are you coping? What more can young people do to help themselves? ….

Useful links:

Support for young people in Camden:

The Camden Under 25’s Advice Centre (0207 974 4595) offers support and advice to young people in Camden on issues including: benefits, money education, and personal problems: www.camden.gov.uk/young

Careers advice in Camden: http://www.camden.gov.uk/ccm/content/contacts/non-council-contacts/contacts-for-careers-advice.en

Direct.Gov has lots of advice and information on benefits, redundancy, improving your skills and finding jobs:

http://www.direct.gov.uk/en/Employment/index.htm

http://backtowork.direct.gov.uk/index.html

The BBC News website has tips on how to survive the recession e.g. redundancy, debts and job hunting: http://news.bbc.co.uk/1/hi/business/7886769.stm

The Citizens Advice Bureau has a website with specific advice and support for young people such as where to get find training or work schemes:

http://www.adviceguide.org.uk/index/life/employment/young_people_and_employment.htm

The Youth Information site has advice and information on unemployment, training schemes and advice on looking for work:

http://www.youthinformation.com/Templates/Section.asp?NodeID=89742

The Site.org has lots of information and advice on work and study including, study choices, getting a job and volunteering:

http://www.thesite.org/workandstudy

Volunteering websites: