Economic Effects of Employment Loss Among Young People During an Economic Crisis

Abstract

This paper addresses the impact that the previous economic crisis had on Spanish economy, focusing on the effects on employment. To this end, the data on the employed population drawn from the Economically Active Population Surveys are broken down by age groups, to analyse the 2008 financial crisis. The results show that crises do not affect all workers equally, because younger workers have suffered disproportionate job losses. Through multisectoral modeling, the impact that this job loss has had on the Spanish economy as a whole is also analyzed.Jel Codes: C67; E24; J23