Figures on UK unemployment released today, show a rise since the last publication of over 114K people entering into the unemployment market taking the total to 2.57 million; the highest we’ve seen in 17 years.
Today’s figures may also reveal that unemployment amongst young people aged 16 – 24 has crossed the one million mark for the first time since anyone started to monitor these events.
Economists believe that today’s figures from the Office for National Statistics will show the number of people out of work to have risen well beyond 2,518,000 – the peak seen earlier this year. And the total is almost certainly expected to top the 2,521,000
recorded at the end of 1994 when Britain was in the wake of its recession.
The Bow Group in 2008 suggested that there is a link between deprivation, unemployment, offending/anti-social behaviour, re-offending and under-achievement.
The most deprived areas in Leeds show a strong positive correlation between the localities with high BME populations and Job Seeker Allowance (JSA) claimant rates and a strong negative correlation between localities with high BME populations and educational achievement rates at both Key Stage 2 and Key Stage 4.
These latest figures have prompted even further fears of a double-dip recession, as 8 per cent of 16 to 64-year-olds will be out of work, which will pile even more pressure on the Tory-led Coalition Government’s much criticised economic strategy.
Apparently, experts at Deutsche Bank have warned the figure could increase even further – to 8.8 per cent in 2012.
What is frustrating is the Government’s denial of the facts staring us in the face. Should we still wait for the private sector to creat jobs?
A winter of discontent may just be around the corner.
Related story: IFS Warns of Rising Poverty