Kids’ misery as 1million jobs axed in crunch

A MILLION jobs have been lost in the credit crunch from sectors that employ the most youngsters.

Shock figures last night showed that 406,000 manufacturing roles have gone since the end of 2007.

And 221,000 people have lost their jobs in retail, hotels and restaurants. More than 40 per cent of all working under 25-year-olds are employed in the retail or hospitality sectors. The only employment rise in the past four years is finance and business services.

Fuming union chiefs added that runaway inflation had piled on the misery for most households. The Retail Prices Index (RPI) has leapt 13.5 per cent since 2007 — with wages in construction up by just 0.2 per cent. Shopworkers pay has risen almost 7 per cent in the past four years.          More Read