Future of Work

Young people are struggling in a jobs market that is “stuck”, according to Lord Willetts Baby boomers are causing “blockages” in the jobs market which stop young people getting promotions or pay rises because David Cameron scrapped the default retirement age.

Allowing people to work into their seventies means younger workers are now earning less than their parents did when starting out in their careers.

Research by the Resolution Foundation shows a 28-year-old earns £50 a week less in real terms than someone entering the jobs market a decade ago.

Lord Willetts, the former Tory cabinet minister who chairs the think tank said it was “shocking” that wages were being suppressed because people starting out on their careers can not move on and move up because they are blocked by older workers

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