“Unemployment has has been the dog that hasn't barked. Until now...” says economics editor

In a recent piece for the Guardian, economics editor, Larry Elliott, warns that private sector job creation will falter just as public sector job cuts kick in - and that recent rises in unemployment are due to the fact that the job vacancies just aren’t there.

He comments:

What does all this mean?  It means that the jobless total, currently at 2,494,000, is likely to go through the 2.5m level next month. It means that unemployment among 16-24-year-olds, now 949,000, will be heading towards 1m when this year's graduates enter the labour market. And it means that the government's austerity programme and welfare to work plans face the same potential problem.  Both are predicated on there being plenty of jobs if only people are prepared to look for them. Yesterday's figures suggest that is not the case.

To read the article in full, visit the Guardian website.