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| Young jobless face debt challenge, says StepChange | Young jobless face debt challenge, says StepChange |
| (about 4 hours later) | |
| A lack of work is the most significant factor in leading under-25s into debt, a charity has said. | A lack of work is the most significant factor in leading under-25s into debt, a charity has said. |
| A third of the 22,262 adults aged under 25 who sought help from the StepChange debt charity said unemployment was the reason for their problem. | A third of the 22,262 adults aged under 25 who sought help from the StepChange debt charity said unemployment was the reason for their problem. |
| Older consumers found other issues, such as marital breakdown, also resulted in money problems. | Older consumers found other issues, such as marital breakdown, also resulted in money problems. |
| More than a million young people in England are not in education, employment or training. | More than a million young people in England are not in education, employment or training. |
| Some 17% of 16 to 24-year-olds were without jobs or college places in the three months to September 2012, according to the latest official data. | Some 17% of 16 to 24-year-olds were without jobs or college places in the three months to September 2012, according to the latest official data. |
| This was down 136,000, or two percentage points, on the same period a year earlier. The next update on the numbers from the Department for Education is on Monday. | This was down 136,000, or two percentage points, on the same period a year earlier. The next update on the numbers from the Department for Education is on Monday. |
| The under-25s who sought help from StepChange were more likely to be out of work, the charity said, and a greater proportion pointed to unemployment as the reason behind their debts than other age groups. | The under-25s who sought help from StepChange were more likely to be out of work, the charity said, and a greater proportion pointed to unemployment as the reason behind their debts than other age groups. |
| For example, only 23% of those aged 40 to 59 picked out unemployment as the reason behind their money problems. Other factors included a reduction in their income, maybe after taking time off for illness or for looking after children. | For example, only 23% of those aged 40 to 59 picked out unemployment as the reason behind their money problems. Other factors included a reduction in their income, maybe after taking time off for illness or for looking after children. |
| "Unemployment is the single biggest cause of debt problems at any age, but markedly so for the under 25s," said Delroy Corinaldi, of StepChange. | "Unemployment is the single biggest cause of debt problems at any age, but markedly so for the under 25s," said Delroy Corinaldi, of StepChange. |
| "It reflects the acutely vulnerable economic position that many young people now find themselves in and is likely to overshadow the lives of a significant proportion of young people for many years to come." | "It reflects the acutely vulnerable economic position that many young people now find themselves in and is likely to overshadow the lives of a significant proportion of young people for many years to come." |