Over half of Liverpool young people think cost of living crisis will have worse impact on them than pandemic

A new study has revealed that the mental well-being of young people in Liverpool is suffering more than during the covid-19 pandemic.

The Prince’s Trust NatWest Youth Index 2023, released today, found that 58 per cent of young people in the city think the cost of living crisis will have a worse impact on their life than the pandemic. The report reveals the overall wellbeing of 16–25-year-olds has flatlined, remaining at the lowest point in its fourteen-year history, with young people least happy and confident in their money and mental health.

The study found that the cost of living and looming recession are young people’s biggest worries for the future in Liverpool, with 68 per cent of people stating worries about the cost of living crsis.

The Youth Index is based on YouGov research of 2,025 16-to 25-year-olds across the UK, gauging young people’s confidence and happiness across a range of areas, from their physical and mental health to money and working life.

Young people’s happiness and confidence with money is now lower than when polling began in 2008 during the Global Financial Crisis, and 50 per cent in Liverpool agree that thinking about money depresses or stresses them.

63 per cent of young people in Liverpool said they always or often feel anxious, over 68 per cent always or often feel stressed and 51 per cent reported ever experiencing a mental health problem.

What has been said?

Rachael Ronchetti, Senior Head of Service Delivery for the North, at The Prince’s Trust said: “Having already lived through one of the most turbulent times to be young, this year’s Prince’s Trust NatWest Youth Index is a warning sign that, post pandemic, in Liverpool young people’s wellbeing has not recovered. It reveals that for this generation – the Class of Covid – economic uncertainty is having a profound impact on their wellbeing and confidence in achieving their aspirations in the future.

“Most concerningly, the report also suggests that these challenges are hitting young people from the most disadvantaged backgrounds hardest, with those who received free school meals or who are unemployed reporting consistently worse wellbeing in all aspects of life.”