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Unemployment figures another encouraging sign – Mulholland

November 14, 2012 4:25 PM
Originally published by East Midlands Liberal Democrats

Commenting on today's drop in unemployment, Co-Chair of the Liberal Democrat Parliamentary Party Committee for Work and Pensions, Greg Mulholland said:

"This is another encouraging sign. Together with the recent GDP figures, these are signs that the economy is healing.

"The UK suffered a huge economic shock during the financial crisis. Liberal Democrats were clear when we joined the Coalition Government that it would be a choppy road to recovery but that we needed to create the right conditions to support growth and deal with the deficit.

"Liberal Democrats know that what matters to people is not abstract numbers and for everyone who is unemployed, it is a personal tragedy. That is why Liberal Democrats are working hard to help people into work. Young people especially need an extra hand as unemployment for them often leaves scars for decades to come. That is why Nick Clegg has invested £1bn in the Youth Contract, which will give every young person the chance to earn or learn."

To tackle youth unemployment, the £1bn Youth Contract which started in April 2012 will give every young person the chance to earn or learn before long-term damage is done:

The Youth Contract will provide at least 410,000 new work places for 18 to 24-year olds into work over the next three years. This includes 160,000 wage subsidies and 250,000 new work experience placements.

  1. A new programme to will help 16 and 17-year olds who are not in employment, education or training (NEETs). This will help the most disengaged of young people to get back to school or college, onto an apprenticeship or into a job with training.

  2. In addition, there will be at least 20,000 more incentive payments to encourage employers to take on young apprentices in England.