Jobs and youth unemployment: it's bad, but not as bad as you might think

Van Reenen, John ORCID: 0000-0001-9153-2907 and Petrongolo, Barbara (2010) Jobs and youth unemployment: it's bad, but not as bad as you might think. CEP Election Analysis (CEPEA012). The London School of Economics and Political Science, Center of Economic Performance, London, UK.

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Abstract

The UK's rate of unemployment has just hit 8 per cent and the number of people unemployed has risen to 2.5 million. According to researchers at the Centre for Economic Performance (CEP), while these figures are bad, they are not as bad as might be expected given the large fall in output in the current recession, the worst decline of any other post-war recession. Young people, however, have fared much worse than other groups with larger increases in their unemployment and bigger falls in hours and wages than for adults. The CEP researchers argue that, unfortunately, this is to be expected as young people always suffer worst during downturns. It does not seem that (relatively) they are doing particularly badly in the latest recession compared with the 1980s and 1990s recessions. More worrying, however, is that the fact that youth unemployment and numbers of NEETs (young people 'not in employment, education or training') were bad going into the recession, having been rising since 2004.

Item Type:	Monograph (Report)
Official URL:	http://cep.lse.ac.uk/
Additional Information:	© 2010 The Authors
Divisions:	Economics Centre for Economic Performance
Subjects:	H Social Sciences > HC Economic History and Conditions
Date Deposited:	18 Jul 2014 08:29
Last Modified:	15 Sep 2023 22:16
URI:	http://eprints.lse.ac.uk/id/eprint/57991

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