Tag: unemployment

Whilst on internship from the University of Leeds, 2nd year student George Travell explored the potential policy prescriptions for the 4th Industrial Revolution.

We’re in the midst of a technological revolution but have we been here before?

The fourth industrial revolution is well on its way to remove 20% of UK workers from the job market by 2030 - a report by McKinsey Global Institute has found. In their study of 46 countries they predicted job loss to be 800m by 2030 whilst still concluding that more jobs will be created than destroyed. Rising consumption particularly from developing economies is one source of new demand which could create approximately 280m jobs globally. Development and deployment of technology itself could create up to 50m.

COVID-19 and the ensuing preventative measures has caused a rate of Economic downturn akin to the great depression. Whilst on virtual work experience with Delta 2020, Jack Thorpe Yr13 Kingston Grammar School student aimed to assess the damaging consequences of a economic shutdown on the job prospects of today's youth.


 

In the 10 weeks since the WHO’s announcement of the COVID-19 global pandemic and the ensuing safety measures taken to avoid unnecessary deaths, the UK economy has been facing one of its largest challenges to date. I believe that, while generally shielded from the virus’ symptoms, the UK’s youth, particularly those set to leave full time education, will take the lion’s share of the economic downturn in the form of high unemployment.