Unemployment rose by 50,000 to 1.35m in three months to March as report shows youngest and oldest workers are hardest hit by coronavirus crisis
- Unemployment figures show a rise of 50,000 people in three months to March
- A report by the Resolution Foundation found younger people facing pay cuts
- The report also warns older workers face risk of being made involuntary retired
- Here’s how to help people impacted by Covid-19
As many as 1.35 million people in Britain are now unemployed, according to new figures released today.
The figures have risen by 50,000 in the three months to March, official data shows.
It comes as a new study today suggests that young and older workers across Britain are being hardest hit when it comes to reductions in pay during the coronavirus crisis.
Meanwhile older workers, who are also seeing their pay cut, are facing the added risk of being of becoming involuntary retired before their pension age, the research suggests.
The report, from think-tank the Resolution Foundation, warned wage reductions and job losses could hit the incomes of some workers in younger and older age brackets permanently, with younger workers facing the misery of having their pay being scarred for years to come.
One charity described the findings as ‘concerning’ and warned it could have ‘worrying ramifications for young people’s longer term health outcomes’.