More than half 16-25 year olds fear AI will impact their job chances
The King's Trust has published a new report on the state of play when it comes to young people and work
New research reveals widespread anxiety among 16-25-year-olds about their job security and future careers.
The findings are from a YouGov survey conducted on behalf of The King’s Trust of 16-25-year-olds across the UK.
It finds:
- 71% of young people in the UK wish they were not starting their careers in the current economic climate.
- The majority of 16-25-year-olds say the state of the economy makes them anxious about their future career (73%)
- Over a third (36%) say they have to take any job to make ends meet.
The research also finds over half of 16-25-year-olds are worried about the impact of artificial intelligence on their future job security.
This is a rise of ten per cent since last year.
Young people worry about work opportunities
Young people who are out of work or education have the lowest wellbeing and confidence in every area of their life, including their future careers. Half of young people out of work and education do not feel confident that they can get the job they want, compared to 33% of their peers in work or education.
A similar number are not confident they will be able to find a stable job in the future, compared to 29% of their peers in work or education.
Jonathan Townsend, UK Chief Executive of The King’s Trust says: “When The King’s Trust was founded in 1976, the UK was facing rising youth unemployment, high inflation and economic uncertainty. Fifty years on, some challenges may look different - with new technologies creating profound industrial shifts - yet too many young people face the same fears. That opportunities are out of reach and the chance of a secure future is being quietly eroded.
“This new research shows young people today are deeply concerned about their job prospects and futures, particularly those already facing the greatest barriers. As a society, we must not accept a future where opportunity depends on background rather than potential."
16-25 year olds "unprepared" for world of work
The report shows most young people feel unequipped for the changing world of work and an increasingly competitive job market.
Three out of five young people say they felt unprepared for how competitive the jobs market would be after leaving education, while almost two thirds (64%) believe most entry level jobs available to young people are insecure.
A quarter of young people say they do not have the right qualifications (25%) or work experience (28%) for the career they want.
The findings also show young people are facing a growing lack of job opportunities. Almost a third of young people say that not enough job opportunities in their local area is the biggest barrier to achieving their career goals, a seven point increase from research last year.
Young people concerned about "failing at life"
The report, with TK Maxx, suggests these worries are having a damaging impact on young people’s wellbeing and aspirations for the future, particularly for those facing adversity.
Over a quarter (27 per cent) of young people feel they are going to fail in life, rising to two fifths of young people out of work and education (39 per cent) or with a disability (43 per cent). A third (32 per cent) of young people from lower income backgrounds feel this way.
These groups of young people were more likely than their peers to always or often feel isolated, anxious and hopeless, and to believe they will never own a home, be financially stable or earn enough to have money left at the end of the monthv.
Townsend says: “We know that when young people are supported to build confidence, gain experience and access opportunities, it can transform not only their careers but their wellbeing and chances in life."