Lost in recessions: Youth employment and earnings in Spain

Young workers in Spain face the unprecedented impact of the Great Recession and the COVID-19 crisis in short sequence. Moreover, they have also experienced a deterioration in their employment and earnings over the last three decades. In this paper, we document this evolution and adopt a longitudinal...

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Bibliographic Details
Published in:SERIEs : journal of the Spanish Economic Association 2022-05, Vol.13 (1), p.11-49
Main Authors: Bentolila, Samuel, Felgueroso, Florentino, Jansen, Marcel, Jimeno, Juan F
Format: Article
Language:English
Subjects:
Collective bargaining
College graduates
Coronaviruses
COVID-19
Deterioration
Earnings
Economic analysis
Economic conditions
Economic Policy
Economic theory
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Finance
Education
Educational attainment
Employment
Great Recession
Job rotation
Labor market
Microeconomics
Original
Original Article
Public Finance
Recessions
Scarring effects
Scars
School dropout programs
School dropouts
Unemployment
University graduates
Workers
Younger workers
Youth
Youth employment
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Summary:Young workers in Spain face the unprecedented impact of the Great Recession and the COVID-19 crisis in short sequence. Moreover, they have also experienced a deterioration in their employment and earnings over the last three decades. In this paper, we document this evolution and adopt a longitudinal approach to show that employment and earnings losses suffered by young workers during recessions are not made up in the subsequent expansions. We also estimate the size of the scarring effects of entering the job market in a recession for college-educated workers during their first decade in the labor market. Our empirical estimates indicate that while there is some evidence of scarring effects, the driving force is a trend worsening of youth labor market outcomes.
ISSN:1869-4195
1869-4187
1869-4195
DOI:10.1007/s13209-021-00244-6