Young people have been the worst hit by jobs cuts following Rachel Reeves’s record-breaking tax raid last autumn.
According to the latest official figures, there were 51,000 fewer under-25s in payrolled work in August compared to April.
The sharp fall in under-25s in payrolled work comes after the rise in employers’ National Insurance Contributions (NICS) came into force in April, pushing up labour costs.
The figures also reveal that the number of under-30s on out-of-work benefits had risen by 66,000 since the General Election. The decline in the number of workers comes as businesses across the UK cut employees and reduce recruitment following the rise in worker costs.
Ben Gregg, a senior researcher at the Centre for Social Justice, said: “Young people are facing a toxic cocktail of rising employment costs and an influx of lower skilled migration into entry-level jobs. Many are turning to a life on mental health benefits as a result.
