The hangover: Why young workers can’t shake off the recession

Monday 13 May 2019 Jobs, Skills and Pay

Monday 13 May, 9.30-10.45am, Resolution Foundation offices, Westminster

All recessions hurt, but they hurt different groups differently. The young are often worst affected, whether by high youth unemployment, low starting salaries or painful pay squeezes. Ten years on from the financial crisis it’s time to take stock of how lasting the effect has been on those who entered the labour market during it.

Do the effects of economic downturns stay with people for many years? How long does it take for their pay and employment levels to recover? Does it change the kind of jobs they do? And what can the financial crisis teach us about the effects of recessions for the next generation of workers?

At the first in a new series of Resolution Foundation events examining intergenerational issues, supported by the Nuffield Foundation, our analysts presented research examining the long-term effects of recent recessions on young people. In a panel chaired by David Willetts, Yvette Cooper MP, Chief Secretary to the Treasury during the financial crisis, and Paul Gregg, Professor of Economic and Social Policy at the University of Bath, gave their reflections on the impact of recessions, and how public policy should change in response.

 

Speakers

Yvette Cooper MP, MP for Normanton, Pontefract and Castleford

Paul Gregg, Professor of Economic and Social Policy at the University of Bath

Stephen Clarke, Senior Economic Analyst at the Resolution Foundation

Chair: David Willetts, Executive Chair of the Resolution Foundation