Synthesis

Javeria Farooq 21870

It is no surprise that the 2008 recession has taken a massive toll on global economies, with
effects still trickling down after over a decade. Unemployment rates have significantly shot
up, particularly effecting the young generation which is experiencing transition from student
to work life. Many researches have been carried out to deeply examine the effects on labour
markets and unemployment. Berry and Mc Daniel (2018) examined the views of the young
generation of UK, finding that there are deep feelings of injustice engraved from
marginalization and from the absence of jobs that they consider meaningful. This viewpoint
has been shared by Chung, Bekker and Houwing (2012) who explored the different levels of
social exclusion faced by today’s generation and theorized that the lack of sufficient
contributory policies has made it harder to move up the employment hierarchy. Both
researches have provided useful insights to the effects of the recession felt among the young
generation.

One of the major effects faced by the youth is the existence of temporary contracts and the
negative long-term effects they carry (Berry and McDaniel, 2018). There are fewer
permanent contracts available, reducing the job stability and security, and increasing
exploitation of young workers by low-paid jobs. Competition has made it further difficult to
find or retain ‘good’ jobs and employers are not providing opportunities for personal growth.
They want to work for employers that fully identify their capabilities, who provide work that
compliments their interest. However, this is not found in the economy currently. This view is
shared by Chung et al. (2012) as they identify the main problem as not being unemployed but
finding jobs that provide job security. The young generation is at risk because the continuity
of these temporary contracts is likely to affect their future incomes, lifestyles, and jobs by
increasing uncertainty. Even during periods of growth in the economy, the young labour finds
it difficult to get permanent jobs. The probable root cause of the increasing unemployment
post-recession might get eradicated if policies focused more on improving the quality of jobs
available, which uses their skills.

As a method to decrease unemployment, entrepreneurship is being promoted by the

government, and the young generation is secluded from receiving social security benefits
which has further increased uncertainty and secure futures (Chung et al., 2012). There is not
much being done in Europe by the policy makers that can contribute to the improvement of
the labour market situation. The government has strongly supported the idea that improving
and increasing education will help improve the situation, but austerity policies have been
introduced to cut down government expenditure, which defeats the purpose of highlighting
education as an important tool. Moreover, the youth has strongly condemned being a part of
politics, a strong reason being neglected by the politicians. This feeling has become concrete
by the perspective that unions are not prioritizing the needs of the young workers. They feel
that their needs are being marginalized and they did not receive any real support (Berry and
McDaniel, 2018). In addition, although young labourers support the idea of bringing change
through trade unions, they strongly feel that their personal needs don’t align with what the
unions represent. These findings evidently show that increased support is required by the
government and the policymakers to remove the feeling of being marginalized and sidelined
among the young generation, which could increase their interest and productivity in their
jobs.

Another concerning and dominating effect of the crisis is the perspectives of the young
generation with regards to the previous generations. They strongly feel that their ‘ambitions
for obtaining good work are far less likely to be met’ (Berry and McDaniel, 2018). The youth
have felt injustice in terms of having much less opportunities to succeed because of the 2008
crisis. In the eyes of today’s generation, the previous generation did not have to worry much
about not finding or retaining a stable job. They had better support to do things which are a
part of adult life, and these vast differences of experiences and struggles are strongly felt in
today’s generation. As similarly argued by Chung et al. (2012), the recession has had much
more effect on the well-being, employment status and general lifestyles of the young
generation than the previous generation. Even after being educated and qualified, they are
likely to go through a more stressful process before getting a permanent and good job. It can
be said then that because of this employment and income insecurity, the global young
population is less likely to start a family or do what is deemed normal by the older
generation.

Indeed, the global crisis has not only adversely affected the economies, but also instilled
pessimistic mindsets in the young generation. As the researches have identified, it is
important that policies that specifically target the urgent needs of the young are imposed,
along with representation by the trade unions. The reduction in temporary contracts, however,
is probably what needs to be focused on the most to improve labour market situations
globally.
References

Berry, C. M. (2018). Young Workers' Perspectives on the Economy, Crisis, The Labour
Market and Politics.
Chung, H. Bekker, S. Hester, H. (2012). Young people and the post-recession labour market
in the context of Europe 2020. Vol 18, issue 3. pp 299-315