Recent statistics released from The Office of National Statistics (ONS) on 16th Match is unfortunately gloomy. While there were no surprises in some of the numbers, there is growing unrest as there seems to be so solutions for these problems in the foreseeable future.
Some of the new record numbers are as follows:
In terms of the various parts of the UK, unemployment in Wales rose by 2,000; Northern Ireland rose by 4,000 and a staggering 38,000 in England. However, unemployment dropped by 16,000 in Scotland.
Economic productivity of 18 to 30 years old determines not only the long term prospects of any country but also impacts the overall competitiveness in the global market. Sadly, UK is breaking records for all the wrong reasons. Getting younger people back to work has to be a priority and more young people back into work will strengthen the economy, communities and families.
Kesh Thukaram, Director of Best Insurance commenting on the latest figures said, ìIt is really concerning to see new records of unemployment every month. Unfortunately this may only be the tip of the iceberg as the real impact of public sector job losses has not even started impacting the market. As various government departments announce the job cuts, this figure is bound to rise in the short term. It is important that the government focuses on delivering some of the growth zones outlined recently. Combination of job creation by the private sector and government’s proactive support in this is vital to see a reverse trend in these numbers.
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