Covid -19 and inequality
Figure 2. Regions of the United Kingdom with lower incomes have a larger proportion of jobs at risk. 17
The coronavirus will also diminish the career prospects of the younger generation, 18 increasing the already wide economic divide between generations due to disparities in ownership of assets 19 and the fact that younger people increasingly start their careers in low-paying jobs. 20 30% of employees under the age of 25 work in shut-down sectors, compared to 13% for those aged above. 21 This early-career unemployment and lack of opportunities means that young workers will be mis-matched in terms of obtaining jobs that correspond to their skill levels and struggle to move into higher-paying occupations, 22 often having career-long affects. 23
17 Tera Allas, Marc Canal, and Vivian Hunt . ‘COVID -19 in the United Kingdom: Assessing jobs at risk and the impact on people and places.’, Mckinsey & Company May 2020: 10. https://www.mckinsey.com/~/media/McKinsey/Industries/Public%20and%20Social%20Sector/Our%20Insights/CO VID%2019%20in%20the%20United%20Kingdom%20Assessing%20jobs%20at%20risk%20and%20the%20impact% 20on%20people%20and%20places%20new/COVID-19-in-the-United-Kingdom-VF.pdf 18 The Economist. ‘ Zoomers, zeros and Gen Z: The Pandemic has widened divides in the labour market.’, The Economist, May 23 rd 2020,.https://www.economist.com/business/2020/05/23/zoomers-zeros-and-gen-z. 19 Ken Mayhew, and Samuel Willis. ‘Inequality: an assessment.’ Oxford Review of Economic Policy, Volume 35, Number 3. 2019: 361. 20 Monica Costa, Dias Robert Joyce, and Agnes Norris Keiller. ‘Vocid - 19 and the carer prospects of young people.’. The Institute For Fiscal Studies. July 2020:1-7. 21 The Economist. ‘Zoomers, zeros and Gen Z: The Pandemic has widened divides in the labour ma rket.’, The Economist, May 23 rd 2020, https://www.economist.com/business/2020/05/23/zoomers-zeros-and-gen-z. 22 Monica Costa, Dias Robert Joyce, and Agnes Norris Keiller. ‘Vocid - 19 and the carer prospects of young people.’. The Institute For Fiscal Studies. July 2020:1-7. 23 The Economist. ‘Zoomers, zeros and Gen Z: The Pandemic has widened divides in the labour ma rket.’, The Economist, May 23 rd 2020. https://www.economist.com/business/2020/05/23/zoomers-zeros-and-gen-z
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