The effects of the coronavirus crisis by age group
The coronavirus pandemic contracted Finland’s GDP by 2.8 percent in 2020, but the effects were distributed unevenly. Young people suffered the most: 67 percent of the total decline in employment affected those aged 15–24, and their unemployment rate rose to 21.4 percent. The reason is that young people’s work is concentrated in the service sectors most severely affected by closure measures and in fixed-term employment relationships. The growth in lay-offs, by contrast, was concentrated among those aged 25–54. (AI translation)
- Merja Kauhanen
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