Young people hit hardest in the latest UK unemployment figures
According to figures released today, unemployment soared by 49,000 in the three months prior to November, with the total now standing at 2.5 million. There are also record numbers of young people out of work.
The bleak figures revealed that employment levels have fallen, redundancies have increased and the number of people classed as economically inactive has reached 9.3 million.
Employment is falling at its fastest rate since the recession and analysts expect the unemployment total to continue on rising in 2011. They believe it is partly due to the public sector spending cuts designed to cut the budget deficit.
The demographic hit hardest by the tough jobs market is 16 to 24 year olds, with the unemployment rate in this age group hitting 20.3%. One in five young people are now out of work, after a rise of 32,000 to 951,000 without jobs, the highest figure since records began in 1992.
Martina Milburn, chief executive of youth charity The Prince’s Trust, explains, Britain is now perilously close to seeing one million young people struggling to find work.
With this record number of youth unemployment in the UK, TUC general secretary Brendan Barber argues, With more than a fifth of young people out of work, we face a real danger of losing another generation of young people to unemployment and wasted ambition.
Experts agree the UK economy is not growing fast enough to bring down unemployment and that a radical approach by the government is needed. Barber believes, With the worst of the cuts still to come, this government risks making high joblessness a permanent feature of our economy. It must change course before it too late.
His call for change is echoed by Inspiring Interns. The job market remains competitive for graduates, as it does for everyone; graduates therefore need to equip themselves with valuable skills to boost their employment chances. At Inspiring Interns we feel internships are an important route for young people to get into the job market. A meaningful internship will not only boost the economy but create great opportunities for small businesses and most importantly get young people into work.