Today's figures are a reflection of the impact the economic problems in the Eurozone and slower growth in the wider global economy are having on the UK. The Government has already taken decisive action to reduce the deficit and restore economic stability, but the challenges facing the global economy must not derail plans to stimulate growth and help young people secure employment.
The Government is determined to tackle youth unemployment. We have put in place a comprehensive series of initiatives, working across Whitehall and with outside experts, designed to help young people, whatever their circumstances, get the help they need to get back into the labour market. These plans will see 350,000 young people helped in the next two years alone.
Figures in detail
The number of people claiming Jobseeker's Allowance shows signs of slowing with a small rise of 5,000 to 1.6 million. The number of vacancies has risen by 7,000 to 462,000. Today's figures show a rise in the number of unemployed 16-24-year-olds to 1.02 million, although the number of full-time students looking for a job rose to 286,000, leaving the underlying number of youth unemployed at 730,000.
Youth unemployment rose by 40 per cent or 280,000 under Labour. It started to rise in 2004, before the recession. And the structural problem of youth unemployment was compounded by Labour's failure to reform education and welfare.
Measures to deal with youth unemployment
Work experience gives young people the chance to go into businesses for up to eight weeks and has resulted in 50 percent of participants moving off benefits a month after completing the scheme. Last month the Government announced that sector-based work academies are now up and running across the country and will offer a programme combining real training, work experience and a guaranteed interview which will give young people another platform to get into a job. In total there will be around 150,000 work experience or work academy places over the next two years to help young people.
The apprenticeships programme is a success story, with record numbers of learners starting an apprenticeship this year. We are funding 350,000 apprenticeships, more than ever before. But we have listened to employers, and will go further to make sure that investment is targeted where impact is greatest, delivering the specific skills businesses need to drive growth. Apprenticeships are proven to boost the life chances of young people, and are a sound investment in our future competitiveness. So when times are tough, it's right that we provide new support to help small firms take on apprentices.