Graduates' gloom in jobs market that is far too competitive

Pessimism as system looks stacked against them

- By Christian Calgie

LABOUR has been accused of setting young people up for “failure” as Rachel Reeves’s jobs tax hammers the UK labour market and creates misery for graduates.

A poll has revealed the gathering economic gloom among Britain’s youth, reflecting growing anxiety about their job prospects over the coming years.

Asked by the Adam Smith Institute think-tank whether they believe it will be easier or harder over the next five years to find well-paid and satisfying jobs, 60% said they believe work will be harder to find. Just one in four voiced optimism that their prospects will improve by the time of the next general election, with 14% expecting no change.

The gloom about the labour market was shared by respondents from every region, with 71% of young people in the East Midlands saying they believe finding good jobs will be more difficult.

Shadow Chancellor Mel Stride laid the blame at Rachel Reeves’s door, warning that her hike to employers’ national insurance contributions in last year’s Budget has caused job market stagnation.

Mr Stride warned: “We should be sending a message to young people that if you work hard, save and do the right thing, the system is on your side — that means more opportunities, lower taxes, home ownership. At the moment they can see no prospect of that.”