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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…

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