As many as three quarters of a million young people in the UK may feel that they have nothing to live for, a study for the Prince's Trust charity claims.
The trust says almost a third of long-term unemployed young people have contemplated taking their own lives.
The Prince's Trust Macquarie Youth Index was based on interviews with 2,161 16 to 25-year-olds. Of these, 281 were classified as Neet (not in employment, education or training) and 166 of these Neets had been unemployed for over six months.
The report found 9% of all respondents agreed with the statement: "I have nothing to live for" and said if 9% of all youngsters felt the same, it would equate to some 751,230 young people feeling they had nothing to live for.
Among those respondents classified as Neet, the percentage of those agreeing with the statement rose to 21%.
The research found that long-term unemployed young people were more than twice as likely as their peers to have been prescribed anti-depressants.
One in three (32%) had contemplated suicide, while one in four (24%) had self-harmed.
The report found 40% of jobless young people had faced symptoms of mental illness, including suicidal thoughts, feelings of self-loathing and panic attacks, as a direct result of unemployment.
Three quarters of long-term unemployed young people (72%) did not have someone to confide in, the study found.
Martina Milburn, chief executive of the Prince's Trust, said: "Unemployment is proven to cause devastating, long-lasting mental health problems among young people.
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If you are or have been long-term unemployed, have you ever felt any of these symptoms mentioned in this article?