PwC joins Good Work Summit to tackle youth unemployment

PwC was amongst more than 100 employers who joined skills minister Baroness Jacqui Smith at a summit aimed at improving routes for young people into employment, education or training.The Good Work Summit, hosted yesterday (27 November) by the Youth Futures Foundation, took place after the Autumn Budget and amid growing concern about youth unemployment and inactivity.

Organisers said the discussions centred on the Government’s Youth Guarantee and the need for closer work between employers and policymakers to ensure every young person can access a suitable job, training place or education pathway.

Leaders at the event highlighted practical steps for employers, including creating high-quality roles, improving retention and addressing structural barriers that prevent young people from entering or progressing in work. The summit was held as one in eight young people remains not in education, employment or training.

The session also drew on Youth Futures Foundation findings and earlier research by consultancy PwC, which reported that rising economic inactivity poses a significant challenge for individuals, employers and government. 

The research identified “unfulfilling” work and mental health pressures as key reasons driving young people to leave the workforce.

A new evidence-based definition of “good work” for young people, co-created with youth ambassadors sharing their experiences of accessing and being in good work, was also unveiled at the event.

Carol Stubbings, UK and EMEA managing partner at PwC, said: “The Good Work Summit is a vital step in tackling economic inactivity and reducing the NEET rate – challenges that demand collaboration across business, government and communities. 

“At PwC, our purpose is to solve important problems, and we know from our research this is one of the most pressing for businesses, individuals and government alike with one in four young people considering leaving the workforce, and mental health being a major driver.”

She added: “We’re proud of the steps we’ve taken to engage young people and broaden opportunity, including upskilling 15,000 young people in the last year, and investing in local communities such as Bradford to support inclusive growth. We know there is more to do, which is why coming together with other employers today is essential for our collective progress.”

Minister for skills, Baroness Jacqui Smith, said: “Every young person should have the opportunity to build a rewarding career and experience the benefits that good work can bring, and yesterday’s £820 million investment will do just that.

“The Good Work Summit was an excellent opportunity to hear directly from business and young people as we press forward with our skills agenda, which aims to meet the needs of industry, equip young people for the jobs of the future and ultimately drive the economic growth our country depends on.”

She added: “Our commitment is clear: whether through apprenticeships, vocational training or education pathways, we will work with employers to break down barriers and create opportunities in every part of the country, so that no young person is left behind.”