In this paper, we compare the level and evolution of economic insecurity in 28 European Union countries during the Great Recession and subsequent economic recovery (2009-2016) using an individual multidimensional measure based on a counting approach. Results show that the evolution of insecurity in time and its distribution significantly differ between regions in the EU during the crisis: on average, Nordic countries show much lower incidence levels of insecurity but higher intensity while Eastern and Southern Europe register the highest incidence in all the EU. Interestingly, it is only in Eastern and Southern EU countries where insecurity affects a significant group of middle-income households and not only low-income ones. In general, even if the role of each characteristic is different per region, the young, low educated and unemployed individuals together with households with dependent children show higher levels of insecurity in all regions. The detailed analysis of each variable’s contribution to the region’s general adjusted insecurity rate (???) allows us to identify the major source of insecurity by region and thus where public action should be addressed to mitigate this phenomenon.
SOURCE: Olga Cantó. “Economic insecurity in the EU using a multidimensional approach.” Universidad de Alcalá, 2019.
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