The King’s Trust has marked their 50th anniversary with a new report showing £11.4 billion impact on UK society. The report also publishes findings from a recent YouGov survey conducted on behalf of The King’s Trust of 4,097 16-25-year-olds across the UK which finds that 71% of young people wish they were not starting their careers in the current economic climate.
Youth charity The King’s Trust (formerly The Prince’s Trust) has recently launched its 50th anniversary social impact report – 50 Years of Working for Young People.
The report finds The Trust’s programmes have contributed at least £11.4 billion of value to society in its 50 year legacy. It is published as almost 950,000 young people in the UK are out of work, education and training and reveals widespread anxiety among 16-25-year-olds about their job security and future careers.
The report analyses The Trust’s work over five decades, assessing the value of supporting young people into work and self-employment, and the savings made to the public purse when young people achieve their potential in education, earn a wage and gain financial independence.
Key findings include:
The report also publishes findings from a YouGov survey conducted on behalf of The King’s Trust of 4,097 16-25-year-olds across the UK.
It finds that 71% of young people in the UK wish they were not starting their careers in the current economic climate. The majority of young people say the state of the economy makes them anxious about their future career (73%) and worry there will not be enough jobs for people like them (74%). Over a third (36%) say they have to take any job to make ends meet.
The research, carried out with support from TK Maxx, highlights that alongside economic uncertainty, over half (59%) of young people are worried about the impact of artificial intelligence on their future job security. This is a rise of 10% since last year.
Across all The Trust’s research, one finding is consistent. Young people who are out of work or education have the lowest wellbeing and confidence in every area of their life, including their employment prospects. 50% 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 (48%) 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.