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Going, going, gone: the allocative power of auctions

The impact of Covid-19 on the employment of young people

Covid-19 has primarily been a health crisis, but it has also had enormous economic consequences worldwide. In this article, Steven Proud looks at the impact of Covid-19 on unemployment in the UK versus the USA and discusses possible long-term effects on young people within the labour market today

demand for labour, government intervention in markets, employment and unemployment, measures of unemployment, human capital

Covid-19 and the policy responses implemented by governments have had significant effects on economies around the world, with lockdowns leading to reductions in demand, and many industries forced into temporary shutdowns. However, the impact across the world has not been the same, and even within countries, different groups of people have been affected in different ways.

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Going, going, gone: the allocative power of auctions

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