Bank of England deputy warns youth hit hardest by UK ‘low-gear economy’
Briefing by News4U · First published
The Guardian reported that Bank of England deputy governor Clare Lombardelli warned young people are bearing the brunt of a “low-gear economy” as employers hold on to staff and freeze new recruitment amid the Iran war’s energy-price surge; youth unemployment has risen to its highest level since 2015 outside the pandemic, while the overall jobless rate stands at 4.7%. [1]
Sources
- Young people in UK hit by ‘low-gear economy’, warns Bank of England deputy
The Guardian · · Excerpt