The Great Recession and Young Adults' Labor Market Outcomes around the World
Title
The Great Recession and Young Adults' Labor Market Outcomes around the World
Author
Mont'Alvao, Arnaldo
Johnson, Monica K.
Research Area
Social Institutions
Topic
Work and the Economy
Abstract
In this essay, we consider the impacts of the Great Recession on youth labor market prospects around the world. Young adults were especially affected by the crisis, experiencing heightened levels of unemployment, underemployment, and idleness. We highlight how variations in social context as well as youth status characteristics and skill levels matter in how youth fare in the labor market. We also draw connections to other important outcomes, such as college enrollments and migration. Our discussion points to important lines of inquiry needing development, especially regarding the plight of youth in developing countries and much needed evaluation of institutional and policy changes that have been designed to promote successful transitions to adulthood despite the economic challenges youth face.