Younger workers have been hit hardest by pandemic, according to new research
New research by the ESRI shows employment is 14% below pre-pandemic levels for people aged 15-34. By Niamh Quinlan Tuesday 11 May 2021, 6:10 AM Tue 6:10 AM 13,814 Views 14 Comments
File photo
Image: Shutterstock/ETAJOE
YOUNG PEOPLE HAVE been disproportionately affected by the job market implications of the Covid-19 pandemic, according to new findings by the Economic and Social Research Institute (ESRI).
The research found employment is 14% lower than pre-pandemic levels for 15-34 year olds, compared to 6% lower for people aged 35 and up.
In the final quarter of 2020, there are 112,000 fewer 15-34 year olds in paid work compared to the end of 2019. The figure is 93,000 for those in the 35 and up category.
Research reveals Covid-19 pandemic has hit Ireland s younger workers the hardest
Reporter:
);
Young adults have been disproportionately hit by the labour market impact of the COVID-19 pandemic, according to new research published by the Economic and Social Research Institute (ESRI).
This shows there were 112,000 fewer 15-34 year olds in paid work in the final quarter of 2020 than a year earlier, compared to 93,000 fewer workers aged 35+.
Proportionally, employment was 14 per cent below its pre-pandemic level for those age 15-34 compared to just 6 per cent below for those age 35+.
The research warns that these job losses could compound the still-lingering effects of the financial crisis, which left almost a third more 20-24-year-olds not in employment, education or training (NEET) than in 2007.
Has The Younger Generation Been Failed With Lower Starting Salaries And Increasing House Prices?
Listen to this episode
Share this article
Young adults have suffered the worst unemployment and labour market impact from COVID-19, according to a report by the ESRI.
The report also found that younger people were experiencing wage stagnation, and that their situation was exacerbated by the high cost of rent.
Has this generation been failed with lower starting salaries and increasing house prices?
We spoke to Barra Roantree, Research Officer with the ESRI, Martha Brennan, features writer with the Irish Examiner, and Ciarán Mulqueen of the Crazy House Prices Instagram page.
Barra Roantree, ESRI Action needed after pandemic double-blow to young adults VIEW NOW The loss of experiences â in education or the workplace, or through travel or relationships â will weigh heavily on a whole generation
Those born since 1980 belong to a trapped generation, pressed between insecure employment, flatlining wages and exorbitant rents that make city living increasingly unattainable. Home ownership is a pipe dream for whole swathes of people. As a report by the Economic and Social Research Institute (ESRI) stated plainly on Tuesday, millennials are likely to be the first generation to have lower living standards than their parents.
Still paying the price
Serious concern as young people left worse off than their parents due to low wages and rising house prices
A new report highlights the state of the nation for Ireland s young people
Updated
Younger people are struggling to afford today s house prices (Image: Niall Carson/PA Wire)
Want the latest political news and analysis delivered straight to your inbox? Sign up to our FREE newsletter Invalid EmailSomething went wrong, please try again later.
Sign me up!
When you subscribe we will use the information you provide to send you these newsletters. Your information will be used in accordance with ourPrivacy Notice.