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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/young-jobless-numbers-quadruple.jpg"><img class="alignnone size-full" title="The number of young people claiming Jobseeker's Allowance has increased this year, a study has found" src="http://londonglossy.com/wp-content/uploads/2010/12/min-young-jobless-numbers-quadruple.jpg" alt="The number of young people claiming Jobseeker's Allowance has increased this year, a study has found"/></a></p>
<p>The number of 16 to 24-year-olds claiming unemployment benefit has increased fourfold since before the recession, costing the UK economy up to £155 million a week, according to a new report.</p>
<p>Young people claiming Jobseeker&#8217;s Allowance jumped from 5,840 in 2008 to more than 25,800 this year, a study by the Prince&#8217;s Trust and RBS found.</p>
<p>The massive rise has left the UK with a much higher youth jobless rate than many other European countries, including Germany, Denmark, Austria, Norway and Holland.</p>
<p>Martina Milburn, chief executive of the Prince&#8217;s Trust, said: &#8220;The annual cost for an individual jobseeker can be as much as £16,000. The argument for intervention and support is unquestionable.&#8221;</p>
<p>Fionnuala Earley, of RBS, said: &#8220;As the UK struggles to clear record levels of national debt, we cannot afford to ignore the growing costs of youth disadvantage. This is not just a welfare burden &#8211; lost productivity and wasted potential directly affect the rate of economic growth in the UK.</p>
<p>&#8220;It&#8217;s crucial for the economy that young people have the skills and confidence they need to find work and view entrepreneurship as a realistic option.&#8221;</p>
<p>Young people with few qualifications have been particularly badly hit by the recession, said the report.</p>
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