Bright Blue, the independent think tank for liberal conservatism, has today published new analysis, entitled Increasingly precarious? Young adults during the pandemic. The analysis reveals the distinct financial, psychological and relational experiences of those aged 18-34 during the Covid-19 pandemic compared to other age groups.
Bright Blue’s main findings from this analysis are:
- Those aged 18 to 34 report experiencing domestic abuse since March 2020 at a higher rate than other age groups. A troubling 11% report that they have experienced domestic abuse, compared to 6% of those aged 35 to 54 and 1% of those aged over 55. A further 7% of 18 to 34 year olds report that they are concerned that they may do so.
- A majority (53%) of those aged 18 to 34 report having to dip into their savings to cover daily expenses since March 2020. This compares to 37% of those aged 35 to 54 and 26% of those aged over 55.
- Nearly a quarter (24%) of those aged 18 to 34 report having to borrow more money to cover daily expenses, making them the age group most likely to do so. This compares to 16% of those aged 35 to 54 and 5% of those aged over 55.
- Despite higher reliance on borrowing and savings, young adults aged 18 to 34 are more likely to report that their personal income has actually increased since March 2020 compared to other age groups. 29% report an increase in their personal income compared to 20% of those aged 35 to 54 and 15% of those aged over 55.
- While those aged 18 to 34 are most likely to report their mental health has worsened (36%) during the pandemic, they are also the age group with the highest proportion of people reporting their mental health has actually improved, with over one in five (22%) of young people reporting this.
Phoebe Arslanagic-Wakefield, Researcher at Bright Blue and analysis author, commented:
“The pandemic has seen more than half of young people forced to erode their savings over the past year, simply to cover daily expenses.
“While coping with increasing financial strain, young people have been at a greater high risk of experiencing domestic abuse since the pandemic struck. This distressing finding shows that for many young adults, the home has not been a safe place throughout lockdown measures.”
