A new report released from The Prince’s Trust and the Learning and Work Institute finds prolonged youth jobs crisis is set to cost UK economy almost £7 billion next year.

The major study, supported by HSBC UK, shows how, while some areas of the economy might begin on the road to recovery, young workers are under-represented in these sectors, and the industries that typically employ young people will be hardest hit in the long term.

The report, based on new labour market analysis and surveys with employers and young people, also warns that the pandemic will continue to exacerbate pre-existing inequalities.

Read the full report here.