Mark Beatson, chief economist at the CIPD, said that the new figures continue to show the strength of the UK's labour market, despite some difficult global conditions.
He explained that a large proportion of the drop can be attributed to the increase in the number of young people who are now in full-time education.
Although youth unemployment in the UK is still too high, the announcement of a new government initiative to extend the Youth Contract Employer Wage Incentive can only be viewed as a positive, Mr Beatson remarked.
He also wants private sector companies to play their part too, stating: "To make sustainable progress on tackling youth unemployment, we need a mind-set change among employers so that they recognise the long-term business benefits of investing in young people."
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Posted by Richard Esquilant
Source: Salespeak News