Dec 29, 2010 14:34 GMT  ·  By
The Prince’s Trust Macquarie Youth Index warns that unemployed young people can suffer from serious mental health problems like panic attacks, self loathing and depression.
   The Prince’s Trust Macquarie Youth Index warns that unemployed young people can suffer from serious mental health problems like panic attacks, self loathing and depression.

The Prince’s Trust Macquarie Youth Index warns that unemployed young people can suffer from serious mental health problems like panic attacks, self loathing and depression.

The research is based on interviews with 2,170 people, 16 to 25 years old, and shows that young people that have been jobless for at least a year, have twice the risk of harming themselves or of suffering from panic attacks.

Also, it seems that half of young people with no job say that unemployment has caused them self harm and insomnia.

About one in six young people believe that unemployment is as stressful as a family crisis and 12% say that they have nightmares because of it.

This is the third annual Youth Index and it's actually also at its lowest point, with the most severe decline being around the emotional health of young people.

People who are not in employment, education or training (NEETs) are significantly less happy across all areas of their lives.

Julie White, Global Head, Macquarie Group Foundation, says that “the index is a meaningful way to track and measure young people’s issues.

“The research shows how Prince’s Trust schemes which help young people into work can directly address their emotional health.

“That’s why Macquarie’s support of The Prince’s Trust is an important part of our UK community investment program.”

This year's report also concluded that NEETs are almost twice as likely to lack a sense of belonging in life, as those in work or education, and 37% of them also lack a sense of identity.

And if we consider that 63% of working young people believe that their job is very important for their identity, it's no wonder that half of young people looking for a job admit to be ashamed when visiting the job center.

And because it's not always easy to get a job, half of them said that job searching disappointed them while 54% felt desperate.

Martina Milburn, chief executive of The Prince’s Trust, said that “unemployment presents a very real and frightening mental health problem for young people – and the longer they are out of work, the greater the risk.”

Also, “Christmas is a difficult time of year to feel alone and isolated,” so Milburn added that “the Prince’s Trust can help vulnerable young people back on their feet and into work, building motivation and self-esteem.”

This report was funded by the Macquarie Group Foundation and carried out by YouGov.