UK youth unemployment in the spotlight

by Mr007 Wed Nov 16, 2011 2:05 am

People queue outside a Job Centre Plus branch Unemployment is at its highest for 17 years, according to the Office for National Statistics
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UK Economy

* UK October inflation falls to 5%
* Bank holds interest rates at 0.5%
* UK clocks up record trade deficit
* UK manufacturing output increases

October's unemployment figures will be closely watched on Wednesday, with fears youth unemployment may top the one million mark.

Between June and August, unemployment rose by 114,000 to 2.57 million, a 17-year high. while the unemployment rate increased to 8.1%.

The jobless total for 16 to 24-year-olds hit a record high of 991,000 in the quarter, a jobless rate of 21.3%.

The government put the rises down to "the international financial crisis".

Unions and youth campaign groups are warning that 16- to 24-year-olds are bearing the brunt of the UK's job losses.

Meanwhile, Howard Archer of IHS Global Insight has forecast the number of unemployed people claiming jobseeker's allowance will show a 25,000 rise for October.

That would be an eighth successive monthly increase.

And the CBI's John Cridland has said: "With unemployment figures set to show yet another disappointing rise, we need action for jobs now."

Prime Minister David Cameron will host a breakfast with business leaders on Thursday to discuss youth unemployment.

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