Official government figures from the ONS have revealed that the underlying trend of rising unemployment among the hardest-to-reach families in Britain continues to grow.
The number of people unemployed for over 24 months increased by 39,000 to reach 385,000 adding to earlier fears of a growing aspiration gap highlighted by the Prince’s Trust report which revealed that more than a quarter from poor homes feel that ‘people like them don’t succeed in life’.
Although total number of unemployed people fell by 88,000 over the quarter to reach 2.43 million, the quarterly fall in unemployment occurred mainly among people aged 16 to 24. The number of unemployed people in this age group fell by 79,000 over the quarter to reach 895,000
According to Liz Field, CEO of Financial Skills Partnership, the onus is on government, national employers and training providers to deliver tangible solutions and break the cycle of unemployment. “One of the main problems identified by employers is that many job seekers often lack the general and business-specific skills needed to start work.
“Introducing a core business finance module from an early age will prove invaluable to these individuals as it will empower them with a range of transferable skills which they will use throughout their lives.
“More so, apprenticeship placements are an important channel for getting job seekers of all ages into full-time employment. They provide a wage, job-specific skills and practical training towards nationally recognised qualifications.”