The commission’s report, Youth Unemployment: the Crisis We Cannot Afford, estimates the current level of youth unemployment will cost at least £4.8bn in 2012.
It estimates the total cost to be £28bn over the next 10 years. The average benefits of £3,559 a year handed to 16- and 17-year-olds not in education, employment or training (Neet) and £600m in lost taxes in 2012, are among the factors used in the calculation.
The government is being urged to "frontload" its Youth Contract work placement initiative and double the number of job opportunities being made available in 2012, as well as guaranteeing a part-time job for all those who are out of work for more than a year.
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