Employing young workers will now cost businesses an extra £4,000 according to fresh figures from the Centre for Policy Studies. Thanks to Reeves’ minimum wage hikes in the last two Budgets, hiring a full-time 18-20 year-old will jump from £15,652 in 2024 to £19,747 in 2026. A two-year rise of 26%…
From April 2026, a business wanting to employ a full-time minimum-wage worker over 21 will be staring down a bill of £25,852 – up 15% since 2024, or an extra £3,414. CPS Tax and Fiscal Researcher Daniel Herring warned:
“Instead she has piled up the cost of employment. Businesses faced with difficult operating conditions will be less likely to take a chance on a younger worker, or someone with fewer skills to offer, now that the cost of hiring them has skyrocketed.”
Meanwhile, youth unemployment already sits at 15.3% for 16-24 year-olds, the highest level since the pandemic. That number is only heading in one direction…
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