The potential £40 billion prize from boosting youth employment, education and training in the UK
average unemployment rate of 15-24 year olds across the OECD
UK youth unemployment rate in 2017
boost to OECD GDP from lowering NEET rate of 20-24 year olds to match Germany levels
potential boost to UK GDP from reducing the NEET rate of 20-24 year olds to German levels
We produce three annual indices comparing UK labour market performance with that in other OECD countries: our Women in Work Index, our Golden Age Index for older workers and our Youth Employment Index.
This year's update of the latter index shows that the UK and other OECD countries have continued to make progress on a number of indicators of youth employment, education and training. Switzerland and Germany again occupy positions at the top of the index, while Japan has moved up from fifth to third place. The UK has also seen its ranking rise from 20th to 19th place, but remains some way below the top performers.
In this edition, we explore the key drivers of youth unemployment rates and discuss in detail how governments and business have successfully supported youth.
In our analysis of the GDP gain from lowering NEET (not in education, employment or training) rates of 20-24 year olds to German levels, we find that the OECD could experience a long-term gain of around $1.2 trillion. For the UK, the potential long run gain could be around £40 billion.
View the key findings of our research and explore the results further using our interactive data tool. We provide more detailed analysis and commentary in the full report, which you can download below.
Our Youth Employment Index is a weighted average of eight indicators which reflect the labour-market impact of workers aged 15 to 24 in OECD countries, including employment, education and training. The key findings from our 2018 report are as follows:
Use our new interactive data tool to explore how your country compares in the Youth Employment Index by simply clicking on your country of choice.