Thursday, February 17, 2011

Crisis in the U.K.: Soaring Youth Unemployment

Roubini Global Economics reports:
Downward wage flexibility and a sharp reduction in hours worked prevented a rise in UK unemployment, which was 7.9% in the three months to December, though youth unemployment (16- to 24-year-olds) hit 20.5%, the highest figure since comparable records began in 1992.

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