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22 May 11:13am

We must act now to shield young people from the economic scarring of Covid-19 | David Blanchflower and David Bell

The Guardian
Recessions blight young people’s prospects for decades, we need New Deal-type policies now to help them Youth unemployment and its scarring effects on the careers of young people were a major concern in the 2008-09 recession. Now that hopes for a “V-shaped recovery” from the Covid-19 pandemic are vanishing, the issue of scarring is again relevant. Past research has shown that those who enter the labour market during a downturn carry the costs of doing so into middle age. These come in the form of lower wages and higher risk of unemployment. Whereas the secretary for works and pensions, Thérèse Coffey, may claim it is “too early to set anything like that at all” (BBC Today Programme 19 May), the evidence is clear: recessions do lasting damage to young people.
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