The Government says that unemployment was 2.46m in Quarter 3 of this year. It will come as no surprise that many parites expect it to continue to rise into 2010.
The CBI forecast unemployment will peak at 2.99m in Q2 2010. The National Institute of Economic and Social Research (NIESR) suggests it will reach 2.95m in Q1 2011. The British Chambers of Commerce's (BCC) prediction is a peak of 2.7m in Q2 2010, and the Ernst & Young Item Club predict the same level at about the same time - mid-2010.
In the pre-budget report yesterday Alistair Darling said that the Government will halve the length of time 18-24 year-olds will have to spend of Jobseeker's Allowance befor being offered training or a job. Previously a year, the new six-month timescale came into force yesterday.
In addition, the Chancellor announced plans to support 10,000 graduates from low-income families with internships, which will be short, unpaid jobs in professions with "historically poor access". This may start next summer.
Director of The Work Foundation, David Coats, said: "Mr Darling is moving in step with the other G20 economies by putting the highest priority on the reduction of unemployment."
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