Adults never having done paid work
According to figures released by the ONS, there are currently some 3.6 million adults out of a total of 41 million adults in the UK who have never been gainfully employed.
Young adults, between 16 and 24, represent the largest group – which includes students – but, even allowing for those in full-time study, ‘never have done paid work’ appears much more likely if you are under 30. The figures represent an increase of over a quarter of a million since 2008.
The ONS visualisation below provides some clarity regarding who makes up the 3.6 million who have never done paid work.
A rise on long-term sickness has also contributed to the overall rise. On the other hand, the number of women who have never done paid work has fallen by around 20% since 2008 – indeed, among the 16 – 19 group, males are more likely to have never worked, although from the age of 25 onwards, the proportion of women who have never worked exceeds that of males. For example, in the 35 to 39 year age group, around 78% of those never doing paid work are women.
Explaining The K-Shaped Economic Recovery from Covid-19 A K-shaped recovery exists post-recession where various segments of the economy recover at their own rates or levels, as opposed to a uniform recovery where each industry takes the same ...
Does Public Choice Theory Affect Economic Output? Both on paper and in real life, there is a solid relationship between economics, public choice, and politics. The economy is one of the major political arenas after all. ...
Largest Retail Bankruptcies Caused By 2020 Pandemic As we know at this point, the COVID-19 pandemic has thrown major companies in the US and the world over into complete havoc. Many have filed for bankruptcy, with an ...
Identifying Speculative Bubbles and Its Effect on Markets Speculation plays an interesting role in economics and one that drastically affects markets. If you ever see "speculation" in this context, be sure to pay attention. It is ...
Explaining The Disconnect Between The Economy and The Stock Market Starting with the end of the 2009 recession, the U.S. economy grew 120 straight months, the longest stretch in history. During that time, the S&P ...
Consumer Confidence Compared to Q2 Job Growth Since WWII, nothing has caught global attention and heightened economic fears quite like Covid-19. Many economies are at the brink of collapse, as companies struggle to stay afloat. World governments ...