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Recessions scar young people their entire lives, even into retirement

  • Written by: Jenny Chesters, Senior Lecturer/ Research Fellow, University of Melbourne
Recessions scar young people their entire lives, even into retirementShutterstock

It is well-established that recessions hit young people the hardest.

We saw it in our early 1980s recession, our early 1990s recession, and in the one we are now entering.

The latest payroll data shows that for most age groups, employment fell 5% to 6% between mid-March and May. For workers in their 20s, it fell 10.7%

The most dramatic...

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