New York City has been hit harder by the economic crisis triggered by the epidemic than any other major American city.
But no age group is worse than young workers. By September, 19% of adults under the age of 25 in the city had lost their jobs, compared to 14% of all workers, according to James Barrott, director of economic and financial policy at the New School of New York’s Center for Urban Affairs. .
Young people are particularly vulnerable as they are over-represented in service industries that have been wiped out by social remote controls.
Workers under the age of 25 made up only 10% of the city’s total workforce, or 4.8 million before the epidemic, but they held 15% of jobs in the most severely affected service industries. Restaurants, Retail Stores and Arts, Hobby and Hobby Businesses , Mr. Barrow said.
The effects of job loss for entry-level workers can be echoed over many years, leading to lower wages, declining job opportunities and financial hardship and instability, especially for those already burdened with college or credit card loans.
The national film reflects what is happening in New York.
Across the country, the overall unemployment rate was in November 6.7 percent, But it was 10.5% for those aged 20 to 24. In contrast, the rate for those aged 25 to 54 is 6%.
Workers under the age of 25 made a little more deposit One million complaints For regular state unemployment benefits in October – not counting aid in the event of an epidemic – against nearly 80,000 in the same month last year.