Blather - in parts

  Typically speaking, a historically low unemployment rate would mean that the Government has little to worry about in the labour market. Despite the lack of worry from the Government, this is not one of those times. Since the start of 2022, overall unemployment has remained fairly steady, decreasing by 0.1%, from 5% to 4.9%. By contrast, unemployment for young people, between 15-24 years old has went from 9.7% to 13.4% in the same period. While it is ordinary for young people to have a higher rate of unemployment than the general population, what we’re seeing now is that gap widening, in a way that could be showing the first signs of a looming employment crisis. Since the Crash, the unemployment rate for young people has been typically close to double that of the general population. However, this year alone we’ve seen a sharp rise in unemployment among young people, with the unemployment rate for young people reaching 2.73x that of the general population. This is coming ...