Friday, February 18, 2011

UK youth unemployment hits record level: Nearly one million graduates out of work

The figures came as official data confirmed that last year's improvement in unemployment had proved a hiatus rather than an end to the climbing numbers of those that have lost their jobs.

By far the worst hit were those between the ages of 16 and 24, the Office for National Statistics figures suggested.

Unemployment jumped by 44,000 in the final three months of 2010 to just under 2.5 million, meaning that 7.9 per cent of workers were out of a job. But the youth unemployment rate hit 20.5 per cent, following a 66,000 increase to 965,000, the highest figures since records began in 1992.

Of particular concern for many experts was the increasing number of young people who have been out of work for a prolonged period of time. There were 75,000 people aged 18 to 24 who have not had a job for two years, the figures said. This was an increase of 43 per cent on a year ago. Read more