Latest Issue

Youth left behind: The real story of the recession

While pensioners have come through the past few years broadly unscathed, young adults in their twenties have seen the largest falls in incomes

By Jonathan Cribb & Andrew Hood  

Young people have been the worst-hit victims of the recession. © Gaia Saviotti


The recession and its aftermath have unsurprisingly hit the living standards of UK households hard. According to the latest official government statistics, median income in 2012–13 was nearly 6 per cent below its level in 2009–10. Despite the economic recovery, slow earnings growth and benefit cuts mean we can be pretty sure that incomes will remain below their 2009–10 peak for a while…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect