As exam season ends, a new wave of young people are navigating their way through the world of employment. However, young people have been among the hardest hit by job losses as a result of the pandemic. For the most part these tend to be “starter jobs” that are lower paid or temporary employment and generally in sectors most affected by coronavirus – for example, in hospitality or the gig industry.
The financial impact of COVID-19 will ultimately affect younger adults for longer. They may well lose out on income with very little money left over to put into savings to build for a healthy adulthood. And making a smooth transition from being a teenager to a young adult often depends on things like access to education, work and support – these are all areas COVID-19 has impacted.
Even so, young people are optimistic and resilient, with the ONS data showing that over half of them (55%) reported they expect their lives to return to normal within six months. Although we all still face challenges, it’s great to see that young people have that positive outlook.
Comparethemarket.com has produced a guide for young people that explores the affect that Covid19 has had on young adults and how they can tackle longer term challenges, together with useful links designed to inform and support young people in a post-covid world.
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