The Nevin Economic Research Institute has published our latest Quarterly Economic Observer (Wednesday 10th April). In it we examine the problems of Youth Unemployment in Northern Ireland. In particular:
- •Youth Unemployment rates of 23.8% or 24,000;
- •34,000 18-24 year olds are not in education training or employment;
- •The number of young people claiming Job Seekers Allowance for more than 12 months has risen by over 250% since the onset of the crisis.
Commenting on the publication, NERI Researcher Paul Mac Flynn pointed out that:
"Northern Ireland has seen significant increases in all measures of youth unemployment since 2007. The costs of youth unemployment in Northern Ireland could be in the region of £300m, even before factoring in serious social consequences. The NERI believes that a Youth Guarantee provides best solution for Northern Ireland both now and in the future.".
The Spring 2013 edition of the Quarterly Economic Observer is being launched in Belfast and also includes an assessment of the Northern Ireland economy, including preliminary forecast for 2013.
The document can be downloaded from here.