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A generation is coming of age during a pandemic that's set to leave long lasting scars on them, both emotionally and financially.
@MariannaHunt5 explores how (and how long) young people will suffer in the aftermath of Covid-19 https://www.telegraph.co.uk/money/consumer-affairs/financial-long-covid-young-peoples-lives-will-take-decade-recover/
A generation is coming of age during a pandemic that's set to leave long lasting scars on them, both emotionally and financially.
@MariannaHunt5 explores how (and how long) young people will suffer in the aftermath of Covid-19 https://www.telegraph.co.uk/money/consumer-affairs/financial-long-covid-young-peoples-lives-will-take-decade-recover/
Employment woesYouth unemployment will not return to its pre-pandemic level for at least another four years, according to @resfoundation.
It's unclear where new jobs for young people will come from – and those who do find work are likely to suffer reduced pay…
Housing turmoilProperty prices jumped 8% in 2020 (dipping in Jan 2021
), which makes getting on the housing ladder even harder for those who aren't already homeowners.What's worse is that most young people's wages have stagnated or fallen…
Debt spiralAround half of those aged between 18 and 34 had racked up debts in the three months to Jan 2021, with a total of £2.4bn owed, according to @monva_UK
That equates to a debt of £335 each…
TaxesCovid spending has ballooned to levels not seen since the WW2 and left a gaping hole in the Government's finances.
This will most likely be clawed back by tax increases, which means young people will be paying for the pandemic for the rest of their working lives…
What else?
Read more in @MariannaHunt5's analysis here: https://www.telegraph.co.uk/money/consumer-affairs/financial-long-covid-young-peoples-lives-will-take-decade-recover/
Read more in @MariannaHunt5's analysis here: https://www.telegraph.co.uk/money/consumer-affairs/financial-long-covid-young-peoples-lives-will-take-decade-recover/
