Story perspectives

Youth Unemployment Peaks as Next Forecasts £1.2bn Profit

5/26/2026

Summary

Story summary

Lord Simon Wolfson said youth unemployment in the United Kingdom is worsening as entry-level competition rises.
Applications per vacancy rose from 10 to 19 in two years, nearly doubling candidates.
Official figures show the unemployment rate for 16- to 24-year-olds is 16.2%, the highest since 2014.
Higher National Insurance contributions and minimum-wage rises added £70 million to Next’s wage bill, prompting a profit forecast of £1.2 billion with sales up 6.2% in Q1.

1 of 1

Story summary

Lord Simon Wolfson said youth unemployment in the United Kingdom is worsening as entry-level competition rises.
Applications per vacancy rose from 10 to 19 in two years, nearly doubling candidates.
Official figures show the unemployment rate for 16- to 24-year-olds is 16.2%, the highest since 2014.
Higher National Insurance contributions and minimum-wage rises added £70 million to Next’s wage bill, prompting a profit forecast of £1.2 billion with sales up 6.2% in Q1.