As anticipation of the COVID-19 vaccine brings hope to the world, concern turns to the long-term economic consequences of the pandemic — and the prospects of young people now leaving education. In any recession, we can expect young people to suffer disproportionately. After all, the first thing that employers do in response to falling demand is to stop hiring. As unemployment rises, young people, already disadvantaged by their comparative lack of knowledge, contacts and experience of work, now face fiercer competition from older workers. In the COVID recession, falling demand is notably uneven. In a turbulent labour market, demand for workers in some sectors has risen sharply; in others it has fallen away completely. It is unsurprising that a recent global survey by the OECD and WorldSkills showed that up to a third of young people said that the pandemic had prompted them to change their career plans.
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