Press Room
Grant Thornton's chief economist assesses UK unemployment
figure
"Today's increase in unemployment to 2.26 million is a
despairing but not surprising statistic. The number out of work is
predicted to rise to around 3 million by the middle of 2010, so
today's figures confirm that there is still a great deal of pain
ahead, despite the signs that the economy may be stabilising.
"What will be of concern for the Government now will be the rising
number of young people out of work and how to get them geared up
with the correct skills and reintegrated back into working life. If
this issue is not addressed now then we will be left with a
dispossessed generation who could be permanently marked by the
recession.
"Any signs of recovery should be treated with caution and attention
should be paid on how to encourage stability in the job market,
business innovation and assistance to get through this tough market
otherwise the nascent recovery in business activity and consumer
spending will dry up and the recession will be far more
prolonged."