Looking ahead to the launch of the Milburn Review, Muniya Barua, Deputy Chief Executive of BusinessLDN, said:
“Young Londoners are facing a perfect economic storm that is making it much harder for many to get their foot onto the careers ladder. The city has the highest youth unemployment rate in the country with one in four 16 – 24 year-olds out of work.
“Business across London want to give talented young people a chance but the cost of hiring them has risen sharply in recent times, which has been compounded by broader economic headwinds, a confusing skills system and artificial intelligence starting to reshape the labour market.
“The Government must work with the private sector to boost growth, which is the only sustainable way to increase support for those facing additional barriers to getting into work.
“Ministers should help bring down operating costs to support hiring, including by delivering on their manifesto commitment to overhaul business rates, and keep a close eye on the impact of last year’s hike to employer national insurance contributions. A new London Careers service should also be launched to help more people access the advice they need in a rapidly evolving jobs market.”