Budget 2010: Unemployment lower than in 1997
Savings used to help the under 24s
Alistair Darling says unemployment stands at 1.6m, lower than than it reached
during recessions in the 1980s and 1990s when it peaked at three million.
He said: “That has not happened by chance.” He said unemployment is still
lower than when Labour came to power in 1997.
The cost of unemployment has been lower than expected and the money saved
will be used to extend the guarantee to young people which means no more than
six months unemployment before receiving state help for those under 24.