“Truly terrible”. This was how David Blanchflower, member of the Bank of England’s monetary policy committee described the latest unemployment figures. With unemployment topping two million he’s not wrong!
Sarah Sachs-Eldridge
A TUC survey revealed the horror of the crisis for those who have lost their jobs. On average there are ten job seekers for every vacancy, with some areas much worse. Hackney in east London, for example, has 37 claimants for every job.
And young people will suffer disproportionately. Unemployment among 16 to 24 year olds is already over 15%. Young people often have little or no savings to fall back on while also suffering a miserly rate of Job Seekers’ Allowance at £47.95 a week.
Meanwhile, showing their priorities, the British government has ploughed a higher proportion of GDP into bailing out banks than any other country. 20% of national income has been poured into the black hole of the banking crisis. They have no solutions to the recession.
But construction workers at the Lindsey oil refinery showed what’s possible. After only around a week of united strike action, Total, the employer, was forced to guarantee jobs on trade union rates of pay. It is such determination that is required. The Youth Fight for Jobs campaign gives young people a way to get organised and fight for our future.
Less than two weeks to go until the Youth March for Jobs hits town on Thursday 2 April. Passing through London’s highest areas of unemployment from Southwark, through Tower Hamlets and Hackney, the march ends at Newham’s ExCel centre where the capitalist leaders of the G20 nations are meeting. The march also passes the Bank of England and Parliament.
YFfJ is telling the G20 capitalist politicians – you won’t make us pay for your crisis!
