It would be wonderful if we could allow for some justification as to why rioting is taking place, no jobs, bad economy, Tory government etc, etc, etc... It is, unfortunately much simpler than that. They are rioting and looting because it earns them street credit and they find it fun. The majority of them couldn't tell you the definition of "economy", are completely oblivious to the fact that we have a coalition government, are completely ignorant to the fact that David Cameron is a Conservative, or indeed what the difference between Conservative and Labour is. Haven't a need to find a job, don't want a job, so aren't really bothered that there aren't any, in fact they are probably completley unaware that there is a job shortage.
Unlike the riots of the Thatcher era, there is no political motivation for these people; this comes under either two categories for them, entertainment or street\gang "requirements". Nothing more, nothing less. They set building alight because their mates find it funny and they look "well hard", it's as simple as that, as I said, unfortunatly.