Young people are most likely to have lost work or seen their income drop because of COVID-19, a report suggests. More than one in three 18 to 24-year-olds is earning less than before the outbreak, research by the Resolution Foundation claims. It said younger workers risk their pay being affected for years, while older staff may end up involuntarily retired.
Around a quarter of 18 to 24-year-olds have been furloughed – meaning they do not work but their firms keep them on their books and the government covers 80% of their wages. A further 9% have lost their jobs altogether – the highest figure out of all age groups.
Industries that traditionally employ younger staff such as pubs, restaurants and leisure centres have remained shut throughout the UK’s eight-week lockdown, as have many shops.
Click HERE to read the full article from The BBC News, May 2020.