Today’s headline grabbing bad news number is 0.3 per cent. That is the latest revision to the GDP figures for the first quarter of this year and it confirms that the UK economy is not just suffering a double dip recession but that it is deeper than we previously thought [as our economics editor David Blanchflower writes].
But also announced today is that during the same period, the number of young people aged 16-24 years old that are not in education, employment or training (NEET) rose by 29,000 to a new record of 954,000. This lost generation has been growing almost non-stop for more than a decade but the latest rise is clearly a result of the weakness of the British economy.
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