Figures released today have shown that unemployment has increased by 25,000 over the last three months. The figures released by the ONS do though show that average pay growth over the last year has increased to 2.8% excluding bonuses.
Iain Duncan Smith, the Work and Pensions Secretary, said:
“Today’s figures show job vacancies at a near record high – evidence of the continued confidence of British businesses, and potential for further growth in the UK economy”.
On youth unemployment Duncan Smith added:
“Youth unemployment has fallen by 38,000 in the past year and has fallen by 200,000 since 2010. The number of young people claiming unemployment benefits is close to the lowest level since the 1970s. The percentage of young people under the age of 25 that have left full time education and are unemployed is down by over a third since from its peak in the recession”.
The increase in unemployment was the second consecutive quarter which is the first time in over two years.
Stephen Timms, the shadow Work and Pensions Secretary, said:
“The rise in unemployment for a second month in a row is worrying and shows we cannot afford to be complacent about the recovery”.