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Press Release: Covid-19 Recession is Having a Disproportionate Impact on the Most Vulnerable
17 August 2020
Individuals who are young, low-paid, black, in self-employment, those who have low education levels or live in large families have been disproportionately affected by the current recession, a new analysis finds. The report What can previous recessions tell us about the Covid-19 downturn? published today by the LSE’s Centre for Economic Performance (CEP), shows that these groups are more likely to have lost their jobs, not be working any hours or had their pay cut in the current crisis. And the report authors - Brian Bell, Mihai Codreanu and CEP director Stephen Machin – warn that because the current crisis is generating the largest economic shock to the UK since at least the 1980s there is scope for long-term scars to cut even deeper than in the past.