Younger Americans Face Higher Layoff Rates During Pandemic

A new study indicates that younger Americans are disproportionately affected by employment changes during the pandemic. More than half of workers age 18-34 have experienced a change in employment status due to layoffs, furloughs, reduced hours, or resignation. Twelve percent of Americans under 34 years old are laid off, compared to 7.6 percent of workers age 35-54, and 4.3 percent of workers 55 and older.

The study also provides an in-depth analysis of behaviors and attitudes towards the current labor market. Nearly 32 percent of Americans age 18-34 are actively seeking new employment, and almost all are looking for jobs outside of their current or previous industry. Comparatively, only 24.8 percent of workers age 35-54 and 19 percent of those aged 55 and older are seeking employment in a new career field.

In addition to disparities among younger Americans, the study also revealed that layoff rates are nearly twice as high for Hispanics as they are for whites. Over 11 percent of Hispanics were laid off, compared to 6.3 percent of whites.

The recent survey collected data from 3,786 Americans aged 18-55+ and analyzed responses based on age, income level, race, and gender. To view the complete survey report, please visit click here.