Wednesday, October 5, 2022
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Poor young people in the UK have lost more jobs

Among the corona epidemics, young people from poor families in the UK lost the most jobs. A recent study by the London School of Economics found that

According to the report, the rate of job loss among young people from poor families in Britain is more than double that of young people from rich families.

The economic impact of the Corona epidemic is being felt around the world. In the developed countries of the West, there has been economic recession and inflation. The United Kingdom is one of the affected countries. During the Corona period, a large number of young workers lost their jobs. The main victims are the young generation from poor families.

A recent study by the Resolution Foundation and the London School of Economic and Political Science on the economic and social impact of the Corona period found that around 41 per cent of young workers from disadvantaged families in Britain lost their jobs in the year following the outbreak of the Corona epidemic. On the other hand, the rate among young people from wealthy families is only 16 percent.

In addition, dissatisfaction with their economic status has increased among young people from poor families in Corona, the report said. While 74 percent of young people reported being satisfied with their finances before the epidemic, the rate dropped to 54 percent a year after the epidemic began.

On the other hand, it is surprising to hear that despite the epidemic, the rate of economic satisfaction among the youth of rich families has increased. Not only that, the research has revealed that the financial security of the youth of rich families has increased from 69 percent to 94 percent.

Andrew Iles, a researcher at the London School of Economics, said the economic impact of the epidemic was having a devastating effect on young people. Especially those who come from poor families are at the center of the crisis. This would undermine Britain’s social equality and increase economic inequality among young people.

The study also found that working families of poor families lost more than twice as many jobs as working families of rich families. This is having a negative impact on the living standards and school attendance rates of children from these poor families.

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