Coronavirus: Employment prospects bleak for the ‘corona class of 2020’

Youth unemployment in Britain could rise by 600,000 this year due to the coronavirus crisis and scar work prospects for young people for years, according to a new report.

The study by the Resolution Foundation also warns that the employment rates of graduates entering the labour market will be 13% lower in three years’ time.

It paints an even bleaker picture for low-skilled workers, predicting their employment rates could fall by as much as 37%.

“The ‘corona class of 2020’ could face years of reduced pay and limited job prospects, long after the current economic storm has passed, unless additional support is provided fast,” said report author Kathleen Henehan.

“The government must therefore work with education providers and businesses to do everything they can to limit these long-term scarring effects.”

For students like Matthew Lofthouse, hoping to work as a sports photographer, 2020 is turning into a perfect storm.

“I have always had a dream of going to cover an Olympic Games, so for me to see sport just stopped in its tracks has been a huge setback,” said Matthew, a photojournalism student at the University of South Wales.

“I handed in my final piece of coursework yesterday but I don’t feel like celebrating. I worked so hard over the last three years in Cardiff, five years if you include college before that, getting work experience and building up a portfolio.

“What can I do about a global pandemic? It’s a once-in-a-century event, I’m just trying my best to stay positive.”

Student leaders have called on the government to take immediate action to address the impact the virus will have on this year’s graduates.

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Robert Murtagh from the National Union of Students said: “There needs to be something in place to make sure this crisis doesn’t happen, that there isn’t an upsurge in unemployment.

“We know that students are worried about the economy. We are calling for a grant to be made available for education leavers, so they can stay in education and upskill themselves.”

Those who are working are likely to face reduced pay too. The report finds that, one year after leaving education, the pay of graduates is projected to be seven per cent lower, and nine per cent and 19% lower for mid and low-skilled workers.

(c) Sky News 2020: Coronavirus: Employment prospects bleak for the ‘corona class of 2020’