The latest statistics from the Office for National Statistics (ONS) shows that UK unemployment rose by 27,000 to 2.53 million in the three months to the end of January.

The increase took the unemployment rate to 8%, with the youth unemployment rate at a record high. The unemployment rate for those aged between 18 and 24 was 18.3%.
 
Male claimants have decreased in numbers for thirteenth consecutive months, but in sharp contrast female claimants have increased for eighth consecutive months. The number of women aged between 25 and 49 claiming Jobseeker’s Allowance increased by 5,400 on the month to reach 250,400, the highest figure since comparable records for this series began in 1997.
 
Liz Field, Chief Executive of the Financial Skills Partnership says that it is critical for employers to invest in training and skills in order to stimulate the economy and support the UK out of recession.

“Vocation-based training such as apprenticeships can provide a vital lifeline for a growing generation of young people who need to be fully engaged with the economy. Employers can stand to harvest a myriad of benefits if they are able to be bold and invest in this talent, which has the potential to drive growth and profitability.”

The Financial Skills Partnership is also seeing a sharp rise in interest in work experience, as young people express concerns about being excluded from elite and selective networks.

“Young people are recognising that work experience can be an incredibly valuable way to get a step on to the work ladder, especially when they are facing the prospect of rising unemployment. Employers need to be flexible and create more options to tap into this important talent pool.”