Abacus Daily Debt News

Young people ‘are biggest losers in recession’

A tough labour market has affected younger people more than any other demographic, according to one expert.

Thomas Usher, research fellow at the Institute for Employment Studies, said rising unemployment has caused recent graduates to find it difficult to obtain suitable jobs in the UK.

Those worried about getting behind on their student loans and maybe in need of debt management help should not be too concerned, as payments will be deferred until an individual is earning more than £15,000 a year.

Mr Usher also noted that graduates who do end up in a position they want should be commended, but those who find themselves in “dead-end jobs” could find it “stressful and isolating”.

Some university leavers may have to consider switching up their options or delaying plans they have put in place, he stated.

His comments come after Office for National Statistics figures found the largest quarterly increase of economically inactive people was among students.

By Francis Finch