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U.K. Jobs Market Most Difficult In Almost 20 Years, Says Survey

The difficulty of finding positions including finance jobs has grown to be the

The difficulty of finding positions including finance jobs has grown to be the most challenging in almost 20 years, according to a survey conducted by trade union center The Trades Union Congress (TUC).

Plight of

The difficulty of finding positions including finance jobs has grown to be the most challenging in almost 20 years, according to a survey conducted by trade union center The Trades Union Congress (TUC).

Plight of the young 

The TUC stated more than 20 percent of people between the ages of 16 and 24 did not have gainful employment and also stated that they were worried about the "scarring effect" that being employed in the long-term could have on people, according to The Telegraph. The trade union center indicated that people in this age demographic are facing the toughest job market in 18 years.

This information was released shortly after a survey conducted by the National Union of Students with 800 students revealing that three out of four people planning to attend university this fall are concerned about the job prospects they will have after finishing their course, the media outlet reports.

The poll also indicated that two-thirds of respondents were worrying about finances while studying, according to the news source. Students from various jurisdictions such as Northern Ireland, England and Wales will be able to obtain their A-level results on August 15, with many of them expected to attend university in September.

Toughest job market in 20 years

General secretary Brendan Barber stated that "students looking to start their careers or continue in their education next month are facing the toughest climate for nearly 20 years," according to the news source.

He added that "it's particularly worrying that long-term joblessness for young people is still rising, even as overall unemployment falls. If this continues we could lose a generation of talented and highly qualified youngsters to blighted careers, debt and under-achievement."

Life choices

A survey conducted by Legal & General revealed that one-third of the more than 3,000 workers polled would respond to losing their current job by starting a business, the media outlet reports. More-than 50 percent indicated that they would opt for being self-employed. Of those polled, 31 percent of participants from Northern Ireland indicated they would start their own business in case of job loss, while 30 percent of respondents in the West Midlands specified this backup plan.

Additional government data indicates that the nation's jobless rate declined to 8.0 percent in June from the previous level of 8.2 percent.