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World Economy Mar 23, 2026

Youth Unemployment Crisis: Calls for Enhanced Support and Policy Reform

The article highlights the pressing issue of youth unemployment and the need for enhanced support s…
The youth unemployment crisis has sparked a call for more comprehensive support for young people seeking jobs. Many argue that the current system fails to adequately address the challenges faced by this demographic, leading to a cycle of rejection, confusion, and anxiety. The need for a revamped support system is underscored by the reality that young people often face significant barriers when entering the job market. The threat of losing benefits for not meeting job search requirements can undermine trust and engagement, making it even more difficult for them to secure employment. To effectively tackle this issue, experts suggest that the government must rebuild trust by removing punitive measures and creating job centers that offer more personalized support. This includes providing young people with the time, resources, and relationships with work coaches who understand their ambitions and can help build their confidence. Young people's voices must be central to shaping the support designed for them. By incorporating their perspectives, the government can create more effective and targeted initiatives that address the specific needs of this demographic. The crisis is also attributed to government policies that have driven employers' decision-making. For instance, national insurance rises and increases in the minimum wage have made young people more expensive to employ, leading companies to opt for older, more experienced workers. Furthermore, the rise in young people out of work due to ill health reflects a deeper erosion of stability. The article argues that secure, humane work is not an optional extra but a public health intervention, highlighting the need for a more comprehensive approach to addressing youth unemployment.
#young #people #work
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World Economy Mar 23, 2026

EasyJet Warns of Air Fare Rises as Iran War Hits Bookings

EasyJet's CEO, Kenton Jarvis, warns that the Iran war has led to a drop in flight bookings, particu…
EasyJet's chief executive, Kenton Jarvis, has announced that the ongoing conflict in the Middle East has started to impact flight bookings, with a notable drop in reservations for destinations such as Turkey, Cyprus, and Egypt. Bookings have slowed for summer, with passengers opting for 'usual suspects' like Spain, Greece, and Portugal instead.Jarvis attributed the decline to the Iran war and its effect on consumer confidence. He mentioned that while the airline has hedged much of its fuel into next year, soaring kerosene prices will likely lead to a rise in air fares by the end of the summer.Fuel prices have surged, with easyJet currently paying $700 (£520) a tonne for jet fuel, compared to current spot prices of $1,850. Jarvis noted that while most European airlines are well-hedged, fares will likely increase as the higher costs are passed on to consumers.The airline's hedging strategy means it can still secure a price of $1,000 in six months, but market expectations are that fuel prices will decrease. However, Jarvis warned that the reality is that prices will start feeding into consumer costs over the back end of summer.In related news, easyJet has reopened a base at Newcastle airport, which it closed in 2020 due to Covid-19. The base will bring 140 jobs and support over 1,000 new jobs in the wider north-east region, with plans to fly up to 800,000 holidaymakers out of Newcastle this summer.
#easyjet #bookings #summer
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World Economy Mar 23, 2026

Global Oil Losses Surpass 1970s Crisis Levels, Warns IEA Chief

The world is currently experiencing oil losses greater than the combined impact of two major crises…
The global oil market is facing unprecedented challenges, with daily oil losses exceeding the combined impact of two major crises in the 1970s, according to the chief of the International Energy Agency (IEA). This stark warning highlights the severity of the current energy landscape and its potential implications for the global economy.The IEA chief's statement underscores the significant strain on global oil supplies, drawing parallels with historical crises that had far-reaching effects on the world economy. As the world navigates this complex energy environment, the IEA's insights are crucial for understanding the potential risks and opportunities that lie ahead.
#world #losing #more
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World Economy Mar 23, 2026

Global Energy Crisis: Iran War and Ukraine Fallout Rivals 1970s Oil Shocks

The global energy crisis triggered by the Iran war and Ukraine conflict is comparable to the twin o…
The global energy crisis caused by the war in Iran and the fallout from the Ukraine conflict is equivalent to the combined force of the twin oil shocks of the 1970s, according to the head of the International Energy Agency (IEA).Fatih Birol, the IEA's executive director, warned that the growing fallout could be seriously compounded by interruptions to the 'vital arteries of the global economy', including petrochemicals, fertilisers, sulphur, and helium.The crisis, which started with bombings against the regime in Tehran on 28 February, already represents the loss of 11m barrels of oil per day and about 140 bcm of gas. This is comparable to the losses seen in the 1973 and 1979 oil crises, which saw a loss of about 5m barrels of oil per day each, and Russia's 2022 invasion of Ukraine, which removed about 75bn cubic metres (bcm) of natural gas from international markets.Birol said that at least 40 energy assets in the Gulf region had been severely or very severely damaged, so even an end to the conflict would not immediately restore energy supply. He also noted that the Asia Pacific region had been badly affected by the closure of the Strait of Hormuz, through which about 20% of the world's oil supply is transported.The IEA has taken emergency measures, including the release of 400m barrels of oil from strategic reserves, the largest emergency measure in its history. Birol said he is consulting world leaders about another possible release of emergency oil supply, noting that the initial move was only 20% of overall stocks.
#iran #ukraine #iea
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Music Mar 20, 2026

Pygmalion's Johannes-Passion: A Theatrical Masterpiece

A review of Pygmalion's new recording of Bach's St John Passion, highlighting the ensemble's razor-…
Bach's St John Passion is a masterpiece that comes close to being an opera, and this new recording by Pygmalion, conducted by Raphaël Pichon, brings out its theatrical qualities in spades. The ensemble's performance is razor-sharp throughout, with a vigorous engagement with the reflective chorale texts.The St John Passion relies on the Evangelist to narrate the bulk of the story, and Pichon is fortunate in having Julien Prégardien on tenor vocals. Prégardien's voice rises to an outraged shriek as he declares Barrabas a murderer, and his achingly florid recall of Peter's bitter tears is noteworthy.The soloists are also impressive, with Huw Montague Rendall bringing tonal richness and unswerving gravitas to the role of Jesus, and Christian Immler's agitated Pilate swinging back and forth like a tormented weathervane. Ying Fang's purity and Lucile Richardot's otherworldliness round off one of the most theatrical St Johns in the catalogue.
#johannes-passion #pygmalion #theatrical
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World Economy Mar 19, 2026

UK Defence Spending Boost Doesn't Mean Abandoning Global Values

The UK government is increasing defence spending while reducing overseas aid, sparking concerns abo…
The world is currently experiencing unprecedented levels of global instability and insecurity, with multiple conflicts erupting in regions such as the Middle East, Ukraine, Gaza, Sudan, and Lebanon. In response, the UK has increased its defence spending at the fastest pace since the end of the Cold War. This increase is being funded partly through a reduction in overseas aid spending over the next three years, a decision also made by several allied countries. Despite this, the Labour government emphasizes that its commitment to international development remains strong, viewing it as a fundamental part of its moral purpose and national interest. The reduction in aid does not signify a withdrawal from global responsibilities, but rather a strategic shift in prioritizing spending. The government plans to focus on areas with the greatest needs, particularly in fragile and conflict-affected countries such as Sudan, Palestine, Ukraine, and now Lebanon. Support for these regions is crucial for preventing humanitarian crises and promoting global stability. The new approach to development will prioritize: Innovative development strategies that deliver more impactful results Partnerships over paternalism, working closely with countries to build their own capacities Conflict prevention and resolution, particularly through education in conflict zones Climate and nature action to mitigate the effects of extreme weather Unlocking new sources of finance to drive growth and economic development The UK aims to lead reforms in international development, modernizing multilateral institutions and increasing investment in critical areas such as women's health and the BBC World Service. The government asserts that its values have not changed, and it remains committed to justice and global stability, even in the face of new security challenges.
#our #development #not
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