Joe Staton

young workers, the least well paid, and women are especially affected economically by the coronavirus, has found a study.

"A remarkable concentration prior notice" these groups are engaged in industries that have shut down, The Institute for Fiscal Studies (IFS).

He Said that his research is a matter of serious concern" over the longer-term impact of The Crisis on Young People in particular, and inequality.

Those hits with the lowest incomes particularly hard, said the IFS.

The research comes as the UK decreased confidence in the economy-to the lowest in 12 years as a COVID-19 crisis drains consumer confidence.

a fall happened The Last time was in 2008 during the economic downturn.

Market Research company GfK's consumer confidence gauge fell to -34, a decrease of 25 points compared to just Two Weeks earlier.

He hit a record-grocery sales were not enough to be against the "stark" prospects for the retail sector.

The IFS found that The Virus lockdown was probably younger work met forces, the hardest, nearly two-and-a-half times More likely to work in a shutdown area.

But he also found that The Virus was likely to have a greater effect on the earnings of women, because a disproportionate share of women working in retail and hospitality, with 17% of female employees work in shutdown sectors, compared with 13% of men.

However, it was also found that the majority of the affected younger workers and the lower wage earners Live With parents or other members of the household, whose incomes are not directly affected by the lockdown.

climate protection", in the short term, many of the pillows from the income of the parents or other members of the household have," she said.

IFS Director Paul Johnson told the Today programme, said the Young People at the age of 25 years and below, employed in the rule, in the leisure, retail and hospitality sectors, which are already burdened heavily by the Covid-19 lockdown.

" in The Future , He Said , there were two main problems facing Young People .

"are these the Young People working in these jobs at The Moment or were those jobs Covid hit, and if you are not able to get back to work, then the longer-term consequences for you.

"We know that periods of unemployment, if you are young, may have long-term effects," He Said .

The Second problem is the younger ones in the labour market after school or University. Mr Johnson said that she will make the entry "in what is probably The Most difficult Time In living memory".

"Traditionally, you'll be looking to start in September, the work, [But ] now, could not be a worse moment to do it. "

asked about the GRP, people, in the middle of March and The End of March, how confident they were about A Number of areas, such as the personal finances and The General economic situation.

the data showed that many now expect, that your personal and fiscal, financial and earnings situation to deteriorate over The Next 12 Months .

"a reflection of Our declining trust in our personal financial situation and the economy in General, the new concern for many in the UK," said Joe Staton , GfK, Client Strategy Director.

The British super-markets had plunged their best month On Record as a buyer to pile in front of the coronavirus lock-down.

Market data provider Kantar revealed last week that sales were up 20. 6% in March.

He Said that the average household Spent £63 More Than usual in this period.

But Mr. Staton warned shows the latest data that the consumers are planning to withholding tax make a lot of unnecessary purchases during the current period of economic uncertainty.

He suggested, it could be a disaster for many high street chains, which is already Under Pressure due to the forced closure of branches.

"Despite record-grocery sales, and The Last summit for the purchase of freezers, television sets and home-office devices, such as the people for a long period of Time In the home, The Major purchase Index by 50 points - a stark picture for parts of the retail sector in the short to medium term," added Mr. Staton.

It was claimed This Week that 20% of small businesses might work in April due to the collapse of consumer demand, which, in spite of the unprecedented government interventions to support jobs.

The Department for work and pensions revealed it had applied a record number of people for universal credit benefits in The Past Two Weeks as a result of the Corona-Virus-pandemic.

He Said 950,000 successful applications for payment were between the ages of 16 March, when people are instructed to work at home, and at The End of the month.

The Department said that it is usually around 100,000 claims in a period of Two Weeks would be expected.

Meanwhile, thousands of people are calling on the government a legal loophole to close to help in their plans, the workers during the Corona-Virus outbreak.

German Chancellor Rishi Sunak , announced help for firms to pay employees - But only those on the payroll on the 28th. February .

Source of news: bbc.com