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Story summary
- Huw Pill, Bank of England chief economist, warned that higher employers’ taxes and minimum wages have reduced youth employment in the United Kingdom.
- Unemployment for 16- to 24-year-olds reached 16.1%, the highest since 2014.
- He cited rising national insurance contributions and minimum wage changes as factors.
- Alan Milburn, chairing a government review, called the rise in youth unemployment an existential risk for the UK.
