A poll published as part of an Institute for Public Policy Research (IPPR) report on young people and savings found that many would soon be in financial difficulty if they lost their job.
When asked how long they could make ends meet if they became unemployed, more than a quarter (27 per cent) of 16-to 29-year-olds earning less than £21,000 a year said "more than one month but less than three months". Around one in six (17 per cent) said they could make ends meet for less than a month.
In total 1,504 16- to 29-year-olds were questioned in the survey.
It also found that almost one in five (19 per cent) 18- to 21-year-olds earning less than £21,000 a year have no savings at all.
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