The Resolution Foundation reports 18 to 24-year-olds in the U.K. were two and a half times more likely to be unemployed or on furlough than any other age group at the end of May.
A new survey also shows 27 percent of this age category are worried about finding a job in the upcoming months, even once restrictions ease and industries such as hospitality and travel begin to open back up again.
"Young people have been hit hardest by the Covid-19 economic crisis, which has taken its toll on their mental health," said Rukmen Sehmi, a senior research and policy analyst at the Resolution Foundation, reports The Guardian.
"Worryingly, some young people are struggling even while the economy is recovering, and they are fearful about their career prospects. These fears must not be underestimated."
The survey, carried out by YouGov on behalf of the Health Foundation charity, was completed by more than 8,000 adults and data showed that less than half of the participants aged 18 to 24-years-old reported they were in good mental health.
These figures were released as researchers from the Institute of Fiscal Studies (IFS) think tank claimed young workers would "bear the scars" of the Covid-19 recession for some years.
Many young adults have decided to delay embarking on a career path or higher education and instead moved in with their parents during the pandemic. Official U.K. figures show adults aged under 25 accounted for two-thirds of employment decline, as they were more likely to be put on the furlough scheme during the global health crisis.
"We know that shocks early on in people's careers can have negative effects on their future job prospects," explained Xiaowei Xu, a senior research economist at the IFS. Without effective support, there is a risk that young people today will bear the scars of the recession for years to come."
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