Unemployment rate hits five-year high as younger people most likely to lose out

The jobless rate for 16- to 24-year-olds surged to 16.1 per cent in the latest quarter - (Getty)

Unemployment has risen to its highest level for five years and wage growth has slowed again, according to official figures, with the jobless rate among young people at its worst level for more than a decade.

The Office for National Statistics (ONS) said the rate of unemployment rose to 5.2 per cent in the three months to December, up from 5.1 per cent in the three months to November.