Covid-19 could be a curse for graduates but a boon for universities
The Covid-19 crisis means a huge downturn in economic activity. A few sectors are growing, as people use more technology and swap to bigger supermarket shops, but most organisations of all shapes and sizes are taking a massive hit. We seem to be heading inevitably into a deep global recession.
Sadly, if you leave education in such a period, you can face lifelong penalties. The impact tends to be twofold: the likelihood of finding and keeping a job; and how much you earn.
Longitudinal research on Britons born in March 1958 who entered the workforce in the late 1970s and early 1980s has found long-term negative effects from unemployment – including “a scar from early unemployment in the magnitude of 12 per cent to 15 per cent at age 42” …