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

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.

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