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Economic Conditions of Young Adults Before and After the Great Recession

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  • Maria Sironi

Abstract

Transition to adulthood has undoubtedly changed in the last few decades. For youth today, an important marker of adulthood is self-actualization in their professional career, and, consequently, also the achievement of stable financial conditions. Economic conditions of youth are greatly subject to fluctuations in the economy, and the subsequent governmental response. Using the Luxembourg Income Study, this work investigates the trends in income from work of young adults before and after the Great Recession of 2008 in five countries – US, UK, Norway, Germany, and Spain. The findings show deterioration in economic conditions of young men, but with differences across countries. Young women suffer less from the crisis, and in some countries, their economic situation improves. The general negative trend is especially pronounced for those with high education, which is primarily because they stay in education longer.

Suggested Citation

  • Maria Sironi, 2017. "Economic Conditions of Young Adults Before and After the Great Recession," LIS Working papers 716, LIS Cross-National Data Center in Luxembourg.
    • Handle: RePEc:lis:liswps:716
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    5. Serge Atherwood & Corey S Sparks, 2019. "Early-career trajectories of young workers in the U.S. in the context of the 2008–09 recession: The effect of labor market entry timing," PLOS ONE, Public Library of Science, vol. 14(3), pages 1-30, March.
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    7. Lonneke van den Berg, 2023. "The educational gradient in young singlehood: The role of gender and the gender climate," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 48(6), pages 153-188.
    8. Johnston Richard & Hogg Ryan & Miller Kristel, 2021. "Who is Most Vulnerable? Exploring Job Vulnerability, Social Distancing and Demand During COVID-19," The Irish Journal of Management, Sciendo, vol. 40(2), pages 100-142, December.
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    Keywords

    Transition to adulthood; Employment; Economic Conditions; Great Recession; Luxembourg Income Study;
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