{"componentChunkName":"component---src-templates-post-js","path":"/the-unemployed-generation/","result":{"data":{"ghostPost":{"id":"Ghost__Post__5f7ee3816690d700392c8a48","title":"The unemployed generation","slug":"the-unemployed-generation","featured":false,"feature_image":"https://multiply.ghost.io/content/images/2020/10/Multiply_minute.png","excerpt":"Think tank, Resolution Foundation, believes youth unemployment is on course to triple, and has warned of a “Covid generation”.","custom_excerpt":"Think tank, Resolution Foundation, believes youth unemployment is on course to triple, and has warned of a “Covid generation”.","created_at_pretty":"08 October, 2020","published_at_pretty":"08 October, 2020","updated_at_pretty":"09 October, 2020","created_at":"2020-10-08T10:01:37.000+00:00","published_at":"2020-10-08T10:08:07.000+00:00","updated_at":"2020-10-09T09:52:14.000+00:00","meta_title":null,"meta_description":null,"og_description":null,"og_image":null,"og_title":null,"twitter_description":null,"twitter_image":null,"twitter_title":null,"authors":[{"name":"Tim Elder","slug":"tim","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null}],"primary_author":{"name":"Tim Elder","slug":"tim","bio":null,"profile_image":null,"twitter":null,"facebook":null,"website":null},"primary_tag":null,"tags":[{"name":"#feed","slug":"hash-feed","description":null,"feature_image":null,"meta_description":null,"meta_title":null,"visibility":"internal"},{"name":"multiply-minute","slug":"multiply-minute","description":"The 1-minute read to get the money news you need with expert adviser commentary","feature_image":null,"meta_description":null,"meta_title":null,"visibility":"public"}],"plaintext":"The 1-minute read to get the money news you need with expert adviser commentary.\n\nYouth unemployment to triple\nThink tank, Resolution Foundation, believes youth unemployment is on course to\ntriple\n[https://www.theguardian.com/society/2020/oct/07/covid-generation-uk-youth-unemployment-set-to-triple-to-80s-levels]\n, and has warned of a “Covid generation”. Workers aged 18 to 29 are most at risk\nduring the second wave of the pandemic. Unemployment could hit 17% by late 2020\n- the same as it was in 1984.\n\nFraudulent grants and loans\nHMRC reckons that up to £258m has been fraudulently claimed\n[https://www.bbc.co.uk/news/business-54446484] or mistakenly paid as grants for\nthe self-employed. Elsewhere, small businesses are struggling to access\nbounceback loans\n[https://www.ft.com/content/c34e3da3-4b93-4b5d-99f5-3834424685b3]*, as banks add\nrestrictions in response to fraud concerns.\n\nHousing market braces for downturn\nListings, enquiries, and sales were strong in September\n[https://www.cityam.com/uk-housing-market-remains-buoyant-but-braces-for-downturn/]\n, according to the Royal Institution of Chartered Surveyors. However, their\nchief economist warns that job losses and policy changes could impact\ntransaction levels in 2021.\n\nLooking beyond London\nA KPMG study of recruiters suggests demand for employees in the capital is\nfalling [https://www.ft.com/content/a0a06644-ae6a-44ee-a2be-f9597000e067]*, but\nthe rest of the country is recovering. Rightmove is also reporting that \nproperty\nsearches have doubled [https://www.bbc.co.uk/news/business-54454990] for small\ntowns and villages.\n\n\n\n*this article might need a subscription to read","html":"

The 1-minute read to get the money news you need with expert adviser commentary.

Youth unemployment to triple

Think tank, Resolution Foundation, believes youth unemployment is on course to triple, and has warned of a “Covid generation”. Workers aged 18 to 29 are most at risk during the second wave of the pandemic. Unemployment could hit 17% by late 2020 - the same as it was in 1984.

Fraudulent grants and loans

HMRC reckons that up to £258m has been fraudulently claimed or mistakenly paid as grants for the self-employed. Elsewhere, small businesses are struggling to access bounceback loans*, as banks add restrictions in response to fraud concerns.

Housing market braces for downturn

Listings, enquiries, and sales were strong in September, according to the Royal Institution of Chartered Surveyors. However, their chief economist warns that job losses and policy changes could impact transaction levels in 2021.

Looking beyond London

A KPMG study of recruiters suggests demand for employees in the capital is falling*, but the rest of the country is recovering. Rightmove is also reporting that property searches have doubled for small towns and villages.

*this article might need a subscription to read

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