Youth unemployment rose yet again to record levels in the three months to January, helping to push the overall jobless rate up to 8%, according to the new figures from the Office for National Statistics.
The overall unemployment rate for the period was up by 0.1 percentage points, from 7.9% over the previous three months, the highest level since 1994. The rate for those aged 16 to 24 was up by 0.8 percentage points at 20.6%, the highest level since records began in 1992.
While young school-leavers and graduates are struggling to find work, there was a 56,000 increase in the number of people aged 65 and over in employment, supposedly this may be due in part to the rising cost of living and the uncertainty of pension security, still it says something about working till we drop and fall to the ground the expectations of our exploiters.
Today’s figures also show a fall in the number of people claiming jobseekers’ allowance, which can be explained by the government drive and directive to sanction claimants at any given opportunity.
Clearly unemployment is an applecart that may turnover with an explosion of anger when job losses increase due to cuts. The government is hoping for strong private sector job growth that will help to hit it up, vacuum up out-of-work public sector staff.
However, John Salt, director of website totaljobs.com, said private sector job growth had remained weaker than expected in recent months. "Sectors which had previously been key to job growth, such as retail have been affected by a drop in consumer spending that comes in response to inflation and fear of an interest rate rise."