CBI comments on latest unemployment data
The CBI commented on the latest unemployment data showing that unemployment is the highest since 1995, with the number of people out of work rising by 118,000 to 2.685 million over the last quarter.
The number of 16-24 year olds looking for work rose to 1.043, representing 22.3% of this age group, 70% of who were not currently in full-time education.
Dr Neil Bentley, CBI Deputy Director-General, said:
“These figures show that unemployment continues to be a major concern and is particularly worrying for young people.
“Notwithstanding the gravity of the situation, over half of the headline rise in unemployment over the last quarter represents people who were previously economically inactive switching to actively look for work.
“The only way to resolve unemployment in the short-term is to pull out all the stops to get the economy moving and businesses growing. Specialist help for our young people, like the new ‘Youth Contract’, will help support them to make the difficult transition into work.
“But over the longer term, the Government must look at how our schools prepare people for working life through better careers advice, guidance, and skills that employers need.”