NBS: Coronavirus epidemic could cut students’ future incomes by 3%

The reduced availability of quality education could cause current students future losses ranging between 1 and 3% of their lifetime income, according to an analysis by the National Bank of Slovakia (NBS). With an expected 42-year career, this is the equivalent of 5 to 15 months of income. The impacts of the corona crisis vary across generations. For working adults, corona has brought income losses. On average, they amount to 1 to 2 months of income, but with high inequalities," states the NBS. Analysts say that the income and assets of seniors during the corona crisis are not threatened and may even increase, but they are also the biggest victims of the pandemic itself. "The average life expectancy of seniors could fall by 0.15 months this year. However, these effects are extremely uneven, some seniors will lose more than a decade of life, and the vast majority will not be affected by anti-epidemic measures," add NBS economists.