It does not come as a surprise that one of the thriving
industries in times of economic crisis is tertiary education. Enrollments
double if not triple as young adults decide to go back to schools and prime
themselves in anticipation of recovery. The issue seldom mentioned is the fact
that not all young adults have the means or rather the luxury to obtain those
additional degrees. This puts them in a rather disadvantage position when it
comes to job search as they are of less value than their school-returning
peers. In other words, they can never break away from the vicious cycle of no
education-no employment. This is indeed the plight of approximately 22 percent
of the young adults in the UK whose future hangs in the balance, not to mention
the implications that it may have on the nation’s future as a whole.
While critics may argue that tackling this issue will bring
no significant improvements in their employment prospects since there just
isn’t enough aggregate demand in the economy fundamentally, it is also sensible
to argue that the different starting points of these two groups of young adults
has already put those with less education in a weaker position regardless of
whether times are good or bad.
It is thus justifiable for the relevant authorities to
correct this failure either by providing training opportunities to boost their
competitiveness or providing support for them to return to school and gain that
extra knowledge. Austerity is necessary but should we jeopardize the future of
the next generation in its pursuit?