Almost half of young people in Wales fear that there will be fewer job opportunities in the next three years

Almost half of young people in Wales fear that there will be fewer job opportunities in the next three years

• Prince’s Trust Macquarie Youth Index reveals young people’s happiness and confidence are at lowest levels since study was launched

• 41% of young people in Wales don’t feel in control of their lives

• More than half of young people in Wales think a lack of self-confidence holds them back

• The Prince’s Trust Cymru calls on the government and employers to focus on young people and provide them with the skills and confidence they need to thrive

CARDIFF: 24 January 2018: The Prince’s Trust Macquarie Youth Index, released today reveals that almost half of young people in Wales (49%) fear that the economy will provide fewer job opportunities for their generation in the next three years[1].

The Youth Index is a national survey that gauges young people’s happiness and confidence across a range of areas from working life to physical health. The latest report demonstrates that young people’s wellbeing, which dropped last year to its lowest level since the Index was first commissioned, has fallen again to a new low this year[2], and that concerns about their job prospects are playing on their minds.

The ninth Index – based on a survey of 2,194 young people aged 16 to 25 – shows that

more than half of young people in Wales (56%) believe a lack of self-confidence holds them back. In addition, almost a third (30%) of young people in Wales think getting relevant work experience is one of the biggest challenges in pursuing a career.

Fading hope for brighter futures

The latest research shows that 41% of young people in Wales don’t feel in control of their lives; in our 2017 report this figure was 31%.  One factor that is taking a toll on young minds is the unpredictable political climate, which is making 66% of young people in Wales feel anxious about their future. A fifth (23%) even think their life will amount to nothing, no matter how hard they try.

Philip Jones, Director of The Prince’s Trust Cymru, said: “Today’s report reveals a shocking level of despondency among a generation that feels increasingly powerless to shape their own future. Disillusionment with the jobs market is causing far too many young people to put their ambitions to one side as they prioritise ‘getting by’ over getting on in life, leaving a wealth of untapped potential in their wake.”

“For the sake of this generation, our communities and our economy, we mustn’t allow young people to resign themselves to a life of underemployment where their undoubted talents will be wasted. Instead, we must work together to encourage, to nurture, to develop their confidence and skills, to identify and match them to the opportunities that are out there to live, learn and earn.”

David Fass, CEO EMEA, Macquarie Group, said: “It is concerning to find that so many young people feel out of control and trapped in a cycle of unrewarding jobs. At Macquarie, we are committed to investing in young people and are proud to support The Prince’s Trust, which works across the UK to ensure that each and every young person has the opportunity and support to achieve his or her maximum potential.”

In response to the issues raised in the report, The Prince’s Trust is refining its eligibility criteria to reflect the evolving needs of the young people it supports, for example those who are underemployed. These changes will enable even more young people to access the charity’s services and with a greater degree of flexibility. Already, provision is available online for young people who are working or studying up to 35 hours per week and want to improve their employability skills or explore the idea of starting their own business.

Prince’s Trust Online, launched in July 2017, is a new service which enables young people anywhere in the UK to access employability and enterprise programmes online via smartphones, tablets and computers at times that suit them. The service also allows users to benefit from Prince’s Trust services even if they can’t attend in person because of where they live, or their personal circumstances, meaning even more young people will be able to overcome barriers in their lives. More services will be added to Prince’s Trust Online over the coming year.

This year, The Prince’s Trust will support around 60,000 disadvantaged young people to develop the confidence and skills they need to succeed in life.