Jobs growth but youth unemployment still high

“The employment figures released today are encouraging, and taking into account improvements in the economy both here and abroad, suggest a labour market recovery is underway.

But so far, the growth of jobs has made no impact on the overall unemployment rate which stands at 7.8%, and unemployment of young people between the ages of 18 and 24 has actually gone up to 19.2%.

“These figures show the Bank of England's pledge to keep interest rates on hold until unemployment is down to 7% is unlikely to be reviewed any time soon.”