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Job Market Not On The Mend; Older Employees Hardest Hit: Survey

Job Market Not On The Mend; Older Employees Hardest Hit: Survey

According to an online survey conducted by YouGov-Mint-CPR Millennial in October and November, the job market is not on the mend. The survey reported that young workers were the worst affected by lay-offs engendered by the lockdown due to the pandemic. However, the older and more experienced workers who lost their jobs would find it harder to get back into the game and expressed dejection about job prospects.

 

Around 17 per cent of millennials (attained adulthood in the early 21st century) and post-millennials became unemployed since the coronavirus outbreak. Though, the share is lesser of older employees and is around 14 per cent.

 

In the survey, millennials refer to people born between 1981 and 1996 who would be between the age bracket of 24-39. Post millennials are people born after 1996 or GenZ, and the rest are pre-millennials. 

 

The survey further informed that incomes fell despite being employment, and the nigger losses were borne by the older employees. A huge number of pre-millennials (55 per cent) said that salary cuts and a fall in business profits. For millennials and post-millennials, the lost earnings stood at 46 per cent.

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