Published: 3rd Jul 2020

The coronavirus pandemic will make it harder for young people to take their first step onto the career ladder or progress into higher paid jobs, according to a new report. The report by the IFS, and funded by HSBC and the Turing Institute, warns that the COVID-19 pandemic threatens could ‘severely disrupt’ the career progression of young workers, with an impact that may last well beyond the easing of the lockdown. The study notes that over the last decade, young people starting out in the labour market have increasingly been working in relatively low-paid occupations, many of which are in sectors hardest hit by the COVID-19 crisis – for example, hospitality and retail. According to the IFS, the share of workers starting their careers in this sector increased by about 50%, from 6% to 9%, between 2007 and 2019. And as other sources of wage growth have dried up, young workers have become … (To read the full article, subscribe below)