Overview of the Impact of the Great Recession

The 2007–8 financial crisis and subsequent Great Recession particularly affected young people trying to make their way from education into the labour market at a time of economic uncertainty and upheaval.

Focus of the Study

This is the first volume to examine the impact of the Great Recession on the developmental stage of young adulthood, a critical phase of the life course that has great significance in the foundations of adult identity.

Methodology and Scope

Using evidence from longitudinal data sets spanning three major OECD countries, these essays examine the recession's effects on education and employment outcomes, and consider the wider psycho-social consequences, including living arrangements, family relations, political engagement, and health and well-being.

Findings and Resilience

While the recession intensified the impact of pre-existing trends towards a prolonged dependence on parents and, for many, the precaritization of life chances, the findings also point to manifestations of resilience, where young people countered adversity by forging positive expectations of the future.