A lack of financial education in Croydon schools is compounding the borough's problems with youth unemployment, a charity has claimed.

Some 2,755 of the area's 16-to-24-year-olds in claimed jobseeker’s allowance in October, according to official figures from the Department for Work and Pensions.

Education charity pfeg - the Personal Finance Education Group - is campaigning for financial education to be included in the national curriculum. 

It says teaching money management skills in Croydon schools could help out-of-work locals avoid debt.

Tracey Bleakley, pfeg chief executive, said: "School-leavers are entering adult life in extremely difficult economic times.  

"Too many young people in Croydon are still struggling to find work – and the truth is that in many cases we are making their problems worse by allowing them to leave school without the skills they need to manage their money well.

"Budgeting what money you have, understanding how benefits work and avoiding falling into unmanageable debt are just some of the financial skills that are absolutely essential when searching for your first job. 

"This is especially important with the forthcoming changes to the benefit system and introduction of Universal Credit.

"Financial education makes a real difference to young people’s lives. 

"We need to give every young person the skills they need to survive and thrive in our economy – and our free resources and support can help teachers in Croydon make this a reality for their pupils."