Following measures that have been introduced to slow the spread of coronavirus, increasing numbers of young people have lost their jobs. Tara Pilkington writes.
With the UK remaining in lockdown for the foreseeable future and measures that were introduced to reduce the spread of coronavirus under regular review, recent figures show that young, low earners have been disproportionately affected by coronavirus.
With almost one million claims for universal credit being made in the past fortnight, the economic impact of coronavirus has become a reality for a large number of workers sooner than it has for others.
While data regarding the scale at which workers are being affected by the virus can’t keep up with the pace of the ongoing crisis, we do have some insight into which demographic has so far been affected the most.
A survey conducted by academics in Britain and Switzerland showed that it is young and low earners that have been hit the hardest, with lower earners twice as likely to lose their jobs compared to high earners, and 12% of under-30s being unemployed because of the crisis compared to 6% of those aged between 40-55.
In the US, a similar survey from Axios-Harris conducted on 30 March found that 31 percent of respondents aged 18 to 34 had either been laid off or put on temporary leave because of the outbreak, compared with 22 percent of those aged between 35 to 49 and just 15 percent of those aged 50 to 64.
Additionally, Philip Oreopoulus, who co-authored a paper on the short and long-term career effects of graduating in a recession, noted that long-term unemployment and lower wages associated with entering the workforce during a prolonged down economy carries increased health risks, including a higher mortality rate.
