According to latest reports, UK unemployment rate has reached to its highest level since 1994. A major cause of concern is that this rate among young people aged 18-24 is at the all time high. While many jobs have got slashed in the public sector, the private sector is not showing any strong sign of recovery.
The high rate of unemployment among young people is bad news for technology related companies because often young people are eager to try new phones or laptops. They are also more likely to try something new in Internet.
It is not only the technology sector that might suffer in UK but also other sectors like fashion and sports that target young consumers.
Perhaps what the British Government should do at this moment is to encourage entrepreneurship. I wonder why we have not seen that many success stories in web entrepreneurship from England in the last one decade. As for blogging, I cannot see any successful British Blog network in Internet today.
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