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COVID-19 dealt millennials the biggest employment hit of the last 20 years — and younger Americans were already at risk of becoming a ‘lost generation’

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The Americans who endured the toughest employment hits of the past two decades are also the ones most prone to long-term scarring, according to a study from the Federal Reserve Bank of St. Louis. It’s the youth.

The coronavirus pandemic fueled labor-market turmoil across nearly all groups. The headline unemployment peaked at 14.7% in April 2020 and has since fallen to 6.2% as the economy recovers. Yet new research from the regional Fed suggests most Americans — particularly millennials — faced lower overall employment before the pandemic even began. And when comparing generations’ employment details ⇒

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