Young and low-paid to be among worst hit in lockdown says study
Young workers and the worst paid are the most likely to be affected by the closure of businesses amid the coronavirus lockdown, a study says.
The research comes as the UK's confidence in the economy has fallen to its lowest in 12 years as the COVID-19 crisis drains consumer confidence.Market research firm GfK's consumer confidence gauge dropped to -34, a decline of 25 points compared to just two weeks earlier. Data showed that many are now expecting their personal and household's financial position to worsen over the next 12 months."Our falling confidence in our personal financial situation and the wider economy reflects the new concern for many across the UK," said Joe Staton, GfK's Client Strategy Director.
He suggested it could spell disaster for many high-street chains which are already under pressure due to the forced closure of stores."Despite record grocery sales, and recent peaks for purchases of freezers, TVs and home office equipment as people prepared for a long period in the home, the Major Purchase Index is down 50 points - a stark picture for some parts of the retail industry in the short to medium term," added Mr Staton.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How 25 celebs are staying in shape while in lockdownThe celebs are showing us how the home workouts are done
Read more »
Coronavirus lockdown to hit low-paid, young and women hardest, warns IFSLow earners seven times more likely to work in sectors worst hit by shutdown, study finds
Read more »
Young lovers ignoring lockdown rules are secretly meeting up by turning off their phone locationsYoung lovers ignoring CoronaLockdown rules are secretly meeting up by turning off their phone lo CoronL coronavirus COVID19 COVID19Pandemic
Read more »
Coronavirus: LGBT+ charity says young people should 'pause' coming out in lockdownLGBT+ young people should 'hit pause' on coming out while self-isolating with their families during the coronavirus pandemic, a UK charity has advised
Read more »
More and more young people 'increasingly becoming severe victims of Covid-19'Coronavirus has infected more than 38,000 people in the UK and killed more than 3,000 more, including a 13-year-old boy from Brixton, south London
Read more »
Young people urged to phone grandparents every day by senior WHO doctor‘If you can’t see your grandparents, call them every single day or twice a day,’ says head of the WHO in Europe
Read more »