Living conditions of young people. Outcomes and prospects

This chapter analyses labour and disposable incomes of young people in the recent past, including trends from the 2008-2009 financial crisis through to the COVID-19 pandemic. It examines income volatility among young people and looks at their coping strategies in times of potential economic distress. It also sheds light on homeownership rates and gender disparities in pay between young people. The final section shifts attention from outcomes to opportunities. It considers income inequalities that are determined by external circumstances (e.g. parental background, gender) and tracks their development before and after the 2008- 2009 financial crisis in order to understand the possible implications of the recent COVID-19 crisis and subsequent recovery. The chapter provides crosscountry comparisons and refers to young people as those aged 15-29, except where otherwise defined. The insights from this chapter are thematically linked to the analytical work of the ESDE review in 2017, which dealt specifically with intergenerational fairness.