The figures released last week of record unemployment of over 2.6 million (8.3%) indicates the economy is stuttering along. Unemployment figures record the economic performance of the past and illustrate the impact of sluggish economic growth. However, the youth unemployment figures (over 1 million for the first time) is even more disturbing as it gives a window into the the productive capacity of the future. The NEETs (Not employed, educated or trained) lend themselves to a bleak future. Opportunities need to be created for the youth otherwise the economy will need to deal with and try to overcome the difficult problem of hard-core or long term unemployment. For you as a student you may be entering the workforce during a very tough economic climate. Education will become a vital bargaining chip in gaining employment.
The Telegraph Article Here
In the current economic climate, is it worth going to University if you can gain valuble years of work experience? University fees as they are will cause a mountain of debt for us, and yes you don't have to pay them until you're earning £21,000, but the massive debt will be taken into account when applying for future mortgages, for example.
ReplyDeleteYes very much so, but the university you go to is crucial.
ReplyDeleteThe 'age-earning' profile of graduates from the top 40 universities shows a huge return to the investment you put in. Of course the debt has to be considered as the higher earnings are paid across your whole life.
The 'Life-cycle hypothesis' of consumption shows very clearly that it is rational to go into debt when young and smooth out consumption over your lifetime as your highest earning period is at the end of your life.