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The pandemic has led to the biggest annual fall in employment for older workers since the 1980s, according to a new report.
The decline in the employment rate for the over-50s has been twice as big as for those aged between 25 and 49.
The Resolution Foundation also found that after losing work, older workers take the longest to return.
It called on the government to tailor retraining opportunities to over-50s.
The report suggests that the Covid-19 crisis has created a U-shaped employment shock, with older and younger workers affected more than those who are middle-aged.
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This month will see us take our first significant step on the long journey out of lockdown, with non-essential retail and outdoor hospitality set to reopen – and our collective excitement is palpable.
Restaurants and bars have reportedly had double the number of reservations they had upon reopening in July last year. Such enthusiasm will be good news for a sector which, according to the Office for National Statistics (ONS), currently has the highest redundancy rate in the economy.
Coronavirus widens gap between black and white youth employment Published:
15 Apr 2021 Young black people are now three times more likely to be unemployed than young white people since the outbreak of the COVID-19 pandemic.
The pandemic has seen unemployment rise across all ethnicities, yet the sharpest rise has been among young black people.
New research by think tank The Resolution Foundation found before the pandemic one in four (25%) black 16-to-24-year-olds were unemployed. Now the figure stands at 35%.
The unemployment rate for young white people is 13%, a three point increase from before the pandemic.
Sandra Kerr, race director at Business in the Community, said HR professionals are an essential piece of the puzzle when it comes to tackling racial inequalities in the workplace.
By JULIAN SHEA in London | China Daily Global | Updated: 2021-04-15 10:02 Share CLOSE A person looks at the adverts in the window of a job agency in London, Oct 13, 2020. [Photo/Agencies]
Young black people have been hit harder by unemployment in the United Kingdom over the course of the novel coronavirus pandemic than any other demographic, a study by the Resolution Foundation think tank has revealed.
Successive lockdowns have had a particularly large impact on sectors such as hospitality and leisure, where young people are more likely to be working. Within that group, racial divisions have emerged, with unemployment among young black people rising by more than 10 percent, to 35 percent.
Young people are hit hardest by Covid job losses April 14 2021, 12.02am
Young people – particularly young black people – have been the hardest hit by the rise in unemployment during the pandemic, an economic think tank has warned.
The Resolution Foundation (RF) – which focuses on those on low and middle incomes – said the young had borne the brunt of the job losses because they disproportionately worked in sectors such as hospitality and leisure, which have been worst affected by the crisis.
It found that between April to June and July to September 2020, the unemployment rate among 18 to 24-year-olds rose from 11.5% to 13.6% – an 18% increase, representing the largest quarter-on-quarter rise among this age group since 1992.