Young people face cash shortage

Almost one in five low-earning young people would run out of cash in less than a month if they lost their job, a study has found.
By The Newsroom
Published 13th Feb 2012, 10:09 BST

The Institute for Public Policy Research highlighted a “worrying” savings gap among young low earners.

The thinktank warned that with high youth unemployment, young people were particularly vulnerable by having so little to fall back on, after carrying out a survey of young people earning less than £21,000.

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When asked how long they could make ends meet if they lost their job, more than a quarter of those surveyed said more than one month but less than three months – but 17 per cent said less than a month.

The study was carried out among 1,504 adults aged 16 to 29.