Economic shocks always hit certain groups harder than others, and age dynamics are often at play. Today’s young and older persons are up against more than a decade of continuing economic shocks bookended by two major crises: the 2008 recession and the 2020 coronavirus pandemic, from which economies are only starting to recover. Both events highlight the vulnerability of the youth labor market and the volatility of seniors’ savings, jeopardizing wealth accumulation, exacerbating generational scarring, and fostering inequality. This issue brief analyzes generational dynamics and vulnerabilities and the policy landscape for addressing them, and offers recommendations for inclusive recovery and growth.
The full version of this piece was originally published by the Atlantic Council and can be read here.