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Young People (not) in the Labour Market in Rich Countries during the Great Recession

Yekaterina Chzhen and Dominic Richardson

Innocenti Working Papers

Abstract: The global financial crisis of 2007/2008 spilled over into the real economy reducing demand for labour and increasing unemployment. Young people were hit hard, with record numbers of 15-24-year-olds out of work and many of them not in education, employment or training (NEET). More than five years since the outbreak of the financial crisis, the economic recovery remains weak and uneven. The study documents a substantial worsening in the youth labour market situation during the Great Recession across the EU and/or OECD, particularly in countries that suffered greater falls in economic output per capita.

Keywords: european union; temporary employment; unemployment; youth (search for similar items in EconPapers)
JEL-codes: J13 J24 J64 (search for similar items in EconPapers)
Pages: 34
Date: 2014
New Economics Papers: this item is included in nep-eec and nep-pke
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