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Impact of an Economic Crisis on Youth Employment: Evidence from 2008 Financial Crisis in Spain

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  • Martínez-García Miguel Á.

    (Department of Financial Economics and Accounting, Universidad Rey Juan Carlos, Paseo de los Artilleros, s/n. 28032 – Vicálvaro – Madrid, Spain)

  • Cámara Ángeles

    (Department of Financial Economics and Accounting, Universidad Rey Juan Carlos, Paseo de los Artilleros, s/n. 28032 – Vicálvaro – Madrid, Spain)

Abstract

This article addresses the impact that the previous economic crisis had on Spanish economy, focusing on the effects on employment. Therefore, the data on the employed population drawn from the economically active population surveys are broken down by age groups, to analyse the 2008 financial crisis. The model created makes it possible to quantify the losses in production and employment in all sectors, highlighting construction, manufacturing, real estate, and professional and administrative activities as the most affected sectors due to the fall in youth employment. The results obtained allow different employment policies to be focused on sectors most affected by the economic crisis and show that crises do not equally affect all works, because younger workers have suffered disproportional job losses.

Suggested Citation

  • Martínez-García Miguel Á. & Cámara Ángeles, 2022. "Impact of an Economic Crisis on Youth Employment: Evidence from 2008 Financial Crisis in Spain," Economics - The Open-Access, Open-Assessment Journal, De Gruyter, vol. 16(1), pages 276-287, January.
    • Handle: RePEc:bpj:econoa:v:16:y:2022:i:1:p:276-287:n:9
    DOI: 10.1515/econ-2022-0033
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    References listed on IDEAS

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    More about this item

    Keywords

    employment; input–output analysis; economic crisis; young workers;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand

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