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Tax and wage rises 'acutely affecting' young people
The Guardian
|February 25, 2026
The negative combined effect of increases in employers’ taxes and minimum wage has been “particularly acute” for young people, the Bank of England’s chief economist has said.
Huw Pill said yesterday that the increase in national insurance contributions (NICs) from April last year and the government’s efforts to equalise the national minimum wage had caused a particular issue for young people trying to find jobs.
Official figures released last week showed that unemployment among 16to 24-year-olds was higher than the EU average for the first time, rising to 16.1% in the final three months of 2025. This is the highest level since 2014, when the jobs market was still recovering from the financial crisis.
Unemployment for the UK as a whole rose to a five-year high of 5.2%.
Dit verhaal komt uit de February 25, 2026-editie van The Guardian.
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