MILLENNIALS prove to be the biggest losers of the pandemic according to a new study
Millennials, as people between the ages of 24 and 39 years old are broadly known, are the generation that has suffered the most during the coronavirus pandemic from a reduction in income and working hours, according to a new study published on Monday, February 22. The generational impact of the coronavirus, conducted by 40dB surveyed 1,000 people between the ages of 16 and 75 in order to better understand the economic and emotional impact of the Covid crisis across different age groups.
“The pandemic has accentuated the trend that we have already seen since the debacle of 2008; once again these young people are the big losers in this political climate,” said Stephan Zao, an analyst at 40dB.
The survey showed that 66 per cent of millennials experienced a drop in income since March 2020, compared with 50 per cent of people 40 years old. Additionally, millennials are also those who have seen their working hours reduced the most (48.9 per cent compared to 36.8 per cent of the general population) and those most affected by job loss (8.5 per cent versus 5.1 per cent of the general population).
Laura, a 31-year-old living in Madrid, told El Pais of her financial hardship during the pandemic.
“Are there really people my age who have a fixed income? It is hard to believe it. During confinement my oven broke and I realised that neither a car nor a house are the themes of my generation, things are about ovens, I don’t have money to buy a new one,” the journalism graduate said.
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