A Resolution Foundation briefing.
Author : K Henehan, Class of 2020: Education leavers in the current crisis, Resolution Foundation,
The Resolution Foundation, London have released this briefing note focusing on the prospects facing young people leaving full-time education today. They highlight the size and length of employment and pay scarring that school leavers could experience. Below is an extract from the report – the full report can be downloaded by clicking on the image above.
“The economic fallout from the coronavirus has taken the UK into uncharted territory.
While the health sector has gone into overdrive, other large industries ranging from nonfood retail to hospitality and travel have been deliberately shut down, resulting in sharper rises in unemployment, and steeper falls in job vacancies, than occurred even during the 2008-2009 economic crisis. The recovery will not be straightforward: restrictions are likely to persist in many sectors, and many businesses will struggle to survive.
This briefing note focuses specifically on the effects this economic crisis will have on education leavers. It estimates the level of employment and pay scarring that they could suffer, and also considers the unique effects that this particular crisis will have by putting at risk many of the roles that non-graduate education leavers first enter into. It discusses a range of policy measures to help those leavers who would like ‘ride out’ the worst of
the storm by staying on in education, as well as policies to help mitigate employment scarring among young people exposed to the current labour market.“