Pay plummets for workers in their 20s

Levels of pay for workers in their 20s has plummeted by almost 12% since the recession, according to a prominent think tank.

The Resolution Foundation said that their analysis showed that since 2008, younger workers had been “pummelled” more than any other group.

The think tank said that four years on from the recession, workers faced an unprecedented working climate with lower wages and lower chances of employment.

The report shows that average hourly pay fell by 11.7% for workers aged 22-29 in the three years after 2008, to £9.83.

Rising inflation has meant that the adjusted hourly rate for all workers also fell by 8.1% over the same period.

Resolution Foundation senior economist Matthew Whittaker said: “The economic downturn has been tough for almost everyone but younger people have been hit harder, and from more than one direction. Wages have been falling steadily for almost everyone but, on top of this, younger people have not benefited from a partial recovery in the jobs market.

“It’s worrying if economic recovery is not to be fully shared among the population. As it stands, young people are at risk of being left out.”

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