Business groups were left shocked today when official figures, published a day early in error, revealed that the number of people out of work rose significantly in the last quarter.
The latest labour market statistics from the Office for National Statistics (ONS) showed that the total number of unemployed people has now hit 2.2 million, an increase of 244,000 over the first three months of 2009.
According to The Guardian, this is the largest quarterly increase since 1981, while the jobless total is up nearly 600,000 on this time last year.
The ONS had no choice but to release the full set of labour market statistics a day early, following the “accidental early release of some data”.
Dr John Philpott, chief economist at the Chartered Institute of Personnel and Development (CIPD), commented:
“The shock in today’s jobless figures is not that they have been released a day early but rather that they paint a far worse picture of the state of the jobs market than expected.
“A rise in unemployment of almost a quarter of a million in a single quarter is truly appalling.”
In particular, the figures showed that job prospects for young people deteriorated significantly in the first three months of 2009.
According to the CIPD, one in six 18-24-year olds are now unemployed – a figure which looks set to climb even higher in the months to come as the latest batch of school leavers and graduates enter the job market.
“While the recession is now hitting every sector, every occupation and every region the big losers are young people,” continued Philpott.
“Youth employment prospects are crumbling, with the toll of job losses falling most heavily on the under-25s. It will be a bleak summer and autumn for this year’s crop of young talent.”
The CIPD predicted that unemployment will peak at 3.2 million in the second quarter of 2010.
© Crimson Business Ltd. 2009