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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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    References listed on IDEAS

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    1. Quintini, Glenda & Martin, John P. & Martin, Sébastien, 2007. "The Changing Nature of the School-to-Work Transition Process in OECD Countries," IZA Discussion Papers 2582, Institute for the Study of Labor (IZA).
    2. World Demographic and Ageing Forum & Glenda Quintini & John P. Martin & Sébastien Martin, 2007. "The changing nature of the school-to-work transition process in OECD countries," Journal Article y:2007:i:1, World Demographic and Ageing Forum.
    3. Richard Freeman & David G. Blanchflower, 2000. "Introduction to "Youth Employment and Joblessness in Advanced Countries"," NBER Chapters,in: Youth Employment and Joblessness in Advanced Countries, pages 1-16 National Bureau of Economic Research, Inc.
    4. Blanchflower, David G. & Freeman, Richard B. (ed.), 2000. "Youth Employment and Joblessness in Advanced Countries," National Bureau of Economic Research Books, University of Chicago Press, edition 1, number 9780226056586, July.
    5. David G. Blanchflower & Richard B. Freeman, 2000. "Youth Employment and Joblessness in Advanced Countries," NBER Books, National Bureau of Economic Research, Inc, number blan00-1, June.
    6. Joachim Vogel, 2002. "European Welfare regimes and the transition to adulthood: A comparative and longitudinal perspective," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 59(3), pages 275-299, September.
    7. Greg Duncan & Johanne Boisjoly & Timothy Smeeding, 1996. "Economic mobility of young workers in the 1970s and 1980s," Demography, Springer;Population Association of America (PAA), vol. 33(4), pages 497-509, November.
    8. Arnstein Aassve & Maria Iacovou & Letizia Mencarini, 2006. "Youth poverty and transition to adulthood in Europe," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 15(2), pages 21-50, July.
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    Keywords

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

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