Lost generation: Figures to highlight jobs crisis among youngsters
A mounting crisis over youth unemployment is expected to be highlighted in official figures on Wednesday.
While the labour market has ridden out the double-dip recession better than many dared hope, poor prospects for those aged 24 or under are a huge blot on the jobs scene.
Chris Williamson, chief economist at financial information firm Markit, says: ‘You get a lost generation. You need only two or three years in which graduates fail to find a job and a fresh crop is leaving university looking for work.’
Lost generation: Figures are expected to show a crisis in youth unemployment
The last unemployment data for the
three months to the end of May, showed total unemployment, as measured
by the Labour Force Survey, down by 65,000 on the three months to
February at 2.58million.
Within this figure there was a fall
of 10,000 to 1.02million in the number of jobless 16 to 24-year-olds.
But this includes A-level students and undergraduates looking for
holiday work.
Once these are removed, hardcore youth unemployment was 724,000 – a rise of 6,000 on the three months before.
There was better news in the traditional claimant count measure of unemployment. While the overall June figure rose by 6,100 to 1.604 million, that for 18 to 24-year-olds fell by 3,300 to 463,200.
- Fly to Boston or Washington DC for £99: Budget airline WOW...
- Jaguar's first ever 'family' sports car roars into the...
- Will the Federal Reserve strike this week? Experts say...
- Nationwide offers £100 cash perk for new current account...
- Broadband and phone customers face escalating costs as...
- How imminent rate rises and the China slump are raising...
- MARKET REPORT: Thomas Cook could get swept up in wave of...
- My wife and I lived separately for 11 years, but now plan to...
- Investors braced for stock market turmoil as China's slump...
- 'Clever scam could have cost me my house and ended in...
- Stick to your guns and stay diversified: Investors should...
- Business leaders launch scathing attack on Corbyn and warn...