Coronavirus study: Young Germans hit hardest in pocket

Young people were hardest hit by the economic impact of coronavirus, according to a study published on Sunday for the German Medicines Manufacturers’ Association (BAH). 

Those aged 18 to 29 were the worst affected, the study said, with 50% of respondents in that age bracket saying they had suffered a loss of income as a result of the pandemic.

Money problems were still pronounced for those in their 30s, with 38% of those surveyed having felt the financial pinch.

Only a small minority of older respondents said they had suffered economically, the study found. Only 15% of over-60s said they had been negatively impacted, with the rest reporting no difference.

Overall, almost a third of those surveyed across all ages said there had been a noticeable effect on their income or that of a partner. Almost all the rest said there were no negative consequences for them.

Read more: Eurozone GDP drops 12.1% in record pandemic plunge

While single people and those living as couples were less likely to notice a drop in income, the survey found that households with three or more people were more likely to feel the effects on their wallets.

Feeling the mental stress

The survey also revealed that women had felt a greater negative effect on their mental health as a result of the pandemic.

Six out of 10 women across the age groups said they had felt psychological stress compared with just 38% of men in the survey.

Read more: Opinion — Germany’s economy can’t count on bouncing back fast

Stress levels did not appear to be significantly affected by whether or not an individual belonged to a high-risk group that was particularly susceptible to coronavirus, such as the elderly or those with underlying health issues.

Market research group Nielsen, which conducted the research on behalf of the BAH, said the survey had been carried out on a representative sample of 1,000 adults between June 9 and 16.

Article source: https://www.dw.com/en/coronavirus-study-young-germans-hit-hardest-in-pocket/a-54405705?maca=en-rss-en-ger-1023-xml-atom