Data show toll of financial crisis on young people

Economy
Sat, 3 Sep 2022 9:48 GMT
Data from a survey published on Thursday examining the impact of the financial crisis in Greece of the previous decade showed a decline in the number of young people aged 25-29 from 2008 to 2019 (from 16,937 to 7,971).
Data show toll of financial crisis on young people

Data from a survey published on Thursday examining the impact of the financial crisis in Greece of the previous decade showed a decline in the number of young people aged 25-29 from 2008 to 2019 (from 16,937 to 7,971).

Researchers of the diaNEOsis nonprofit research organization attributed the drop both to a general decline in the number of births over time as well as migration abroad, mainly due to the financial crisis

It was also found that the young people in 2019 were more educated, with the proportion of those with a higher education degree was almost 5% higher than in 2008.

Tellingly, after 2008, the labor market participation rate of young people fell significantly, while more women than men were unemployed over time. The study also showed that in 2008, 16.3% of young Greeks aged 15 to 29 halted their studies at secondary school. In 2019, this percentage had dropped to 7%.

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