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UK Unemployment in the Great Recession

Published online by Cambridge University Press:  26 March 2020

David N.F. Bell  and
David G. Blanchflower
David N.F. Bell*
Affiliation:
University of Stirling and IZA
David G. Blanchflower*
Affiliation:
Dartmouth College, University of Stirling, IZA, CESifo and NBER
*
e-mail: [email protected]
e-mail: [email protected]
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Abstract

This paper considers some of the implications of the increase in UK unemployment since the beginning of the Great Recession. The major finding is that the sharp increase in unemployment and decrease in employment is largely concentrated on the young. This has occurred at a time when the size of the youth cohort is large. As a response to a lack of jobs there has been a substantial increase in applications to university, although there has only been a small rise in the number of places available. Further we find evidence that the unemployed have particularly low levels of well-being, are depressed, have low levels of life satisfaction, have difficulties paying their bills and are especially likely to be in financial difficulties.

Keywords

Unemploymentyouth unemployment and unhappinessD1I31E300E320J110J210
Type
Research Articles
Information
National Institute Economic Review , Volume 214 , October 2010 , pp. R3 - R25
Copyright
Copyright © 2010 National Institute of Economic and Social Research

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