Unemployment rises for Under-25s

The unemployment rate has risen once again and is now at its highlight level in almost five years. The under 25s are are bearing the brunt of the job losses, official figures show.

The UK’s jobless rate rose to 5.1% in the three months to December, with the number of people on company payrolls down 726,000 on pre-pandemic levels.

Almost three-fifths of these were younger than 25 years.

However, there have been signs of stabilisation for jobs.

The Office for National Statistics (ONS) said there was a small increase in the numbers of employees paid through payroll over the past couple of months, with 83,000 more people on the books in January compared with the previous month.

Average pay rose, too, by 4.7% including bonuses, although this was said to be a statistical quirk rather than a sign of lasting wage growth,

Statisticians said this was partly because of the disproportionate fall in the number of young, typically lower-paid workers. Adjusting for this, the ONS said underlying wage growth was “likely to be under 3%”.

The ONS said 1.74 million people were unemployed in the October to December period, up 454,000 from the same quarter in 2019.

Read the full article at Under-25s hit worst as unemployment rises again – BBC News

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