Youthful Enterprise: NEET answers

The bottom line makes uncomfortable reading: figures released this October by the Office for National Statistics show that unemployment among so-called 'NEETs' has hit a record high.

Figures released this October by the Office for National Statistics show that unemployment among 16- to 24-year olds in the UK has hit a record high, with 991,000 young people unable to find work. Women and young people are being hit the hardest by the shortage of jobs.

Between June and August there were around 205,000 young people aged 16 to 17 out of work and around 785,000 18- to 24-year-olds. The youth unemployment rate stood at 21.3 per cent compared with 8.1 per cent for the population as a whole. In the previous quarter 973,000 young people were unemployed.

Faced with tuition fees of up to £9,000 per annum and living costs on top, demand from students for university places has fallen by 46,000 to 2.2million. With higher education no longer a viable option, there is a burgeoning pool of young people not in education, employment or training, the so-called ‘NEETs’.

The government has argued that around 270,000 of those classified as unemployed are actually looking for work. However, many are job hunting for the first time and lack the relevant qualifications, skills and experience to break into the world of work. They are also competing in a market where demand for jobs in some sectors and geographic regions far outweighs supply.

IFT's November 'Swift' magazine looks at three enterprises in which IFT members and corporate partners are deeply engaged and shines an optimistic light on what can be achieved – against the odds.