Recession Graduates: The Long-lasting Effects of an Unlucky Draw | Stanford Institute for Economic Policy Research (SIEPR)
Key Takeaways
- Leaving school for work during an economic downturn has negative consequences later in life for socioeconomic status, health, and mortality.
- In particular, recession graduates have higher death rates in midlife, including significantly greater risk of drug overdoses and other so-called “deaths of despair.”
- It is not certain what causes these effects, but workers beginning their careers in a depressed labor market might get permanently stuck on a downward-shifted economic trajectory or they may adopt unhealthy behaviors.
