Lack of access to car keeps 66% of young job seekers from joining workforce
66% of 17-25 year olds have had to turn down job opportunities due to lack of access to a car[1]- Over half (53%) of young job applicants are not even bothering to apply for roles in key industries, as they cannot get to the interviews due to lack of access to a car[2]
- Over a fifth (22%) of young drivers have limited or no access to a car[3]
- 26% of young drivers who want to drive more stated high insurance premiums prevent them from doing so[4]
- UK businesses are losing out on top talent with the retail, sales and financial services being hit the hardest[6].
Two thirds (66%) of young drivers are being forced to turn down job opportunities because they do not have access to a car to get to the interviews, according to new research from price comparison and switching service uSwitch.com[1].
Even after shouldering the cost of driving lessons, tests and licence applications, young drivers are finding the cost of keeping a car on the road too high. Over a fifth (22%) of 17-25 year olds with a full UK licence have limited or no access to a car[3]. 26% of young drivers who want to drive more also stated high insurance premiums are preventing them from doing so[4]. This leaves them in the lurch when trying to reach job or interviews as it’s too difficult or costly to reach the venue using public transport.
The costs associated with driving were revealed as the main factor keeping young people keen to drive more off the road, with high petrol prices (63%), the cost of parking (30%), maintenance such as MOT (29%) and high insurance premiums (26%) leading the list. Heavy traffic (28%) and availability of parking (17%) were also listed as factors preventing 17-25 year olds from driving more[5].
The soaring cost of running a car is not just hitting young job seekers but businesses are suffering too. In fact, over half (53%) of young job applicants are not even bothering to apply for roles in key sectors as they cannot get to the workplace without access to a car. This is preventing businesses from employing top new talent[2].
The research also reveals that certain roles are being hit harder than others. Of those who had to turn down interviews because they didn’t have access to a car, almost half (46%) turned down roles in retail and sales. The financial services (16%), engineering (14%) and health (13%) industries are also losing out on thousands of future employees as young people turn down job opportunities[6].
Despite the capital boasting one of the biggest public transport networks in the world, even London job hunters are suffering. 82% of young Londoners with a driving licence have had to turn down a job as they could not get to the interview as they did not have access to a car[7], and 53% have even discounted applying altogether[8].
Rod Jones, insurance expert at uSwitch.com, says: “Not only are young drivers being priced out of the workforce by the soaring costs of maintaining a car, but businesses are losing out on the UK’s top young talent. Learning to drive is both costly and time intensive. Yet once they have passed, young drivers are then faced with additional motoring costs before they can get even get behind the wheel.
“Although many driving costs are unavoidable, there are measures young drivers can take to make getting on the road more affordable. By fitting a black box into your car or buying your car and insurance together in a package deal you may be able to reduce your insurance premiums. But it’s important to do your research and assess all the options before committing.”
For more information visit http://www.uswitch.com/car-insurance/ or call 0800 093 06 07