Article 51QSM In the coronavirus jobs wipeout, the young and low earners suffer most

In the coronavirus jobs wipeout, the young and low earners suffer most

by
Torsten Bell
from on (#51QSM)

Economic hardship is blighting some more quickly than others

This recession stands out for its scale and speed, on both counts far outstripping the impact of the 2008 financial crisis that we thought would be the defining economic event of our lifetimes.

And this is a jobs recession. Jobless numbers never grew as expected during the financial crisis, but are certainly picking up now. Last week, worries about the economic impact of coronavirus became reality - almost one million claims have been made for universal credit in the past fortnight.

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