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Job Protections for Older Generation are Barriers for Younger Workers

by on August 11, 2014

The Wall Street Journal reviews the circumstances of different age workers across Europe and, particularly when comparing the status of parents and children, finds the latter are struggling.  Focusing particularly on the situation in Italy and Spain the article particularly focuses on the shift from well protected permanent contracts with generous retirement provision across most sectors, to the predominance of temporary contracts.  These not only provide less secure employment for those entering the workplace more recently but also restrict access to financial services such as loans and mortgages.

The article follows two families stories, and what becomes clear from these particular examples is that these issues are affecting the whole family.  Highlighting the number of ‘boomerang’ children and multi-generational families it is clear that all are making financial and other sacrifices to cope with this difficult situation.  This solution has however apparently become part of the problem as, quoting an LSE economist, the article states that “by supporting their children financially, parents have unwittingly also blunted public pressure for changes to labor rules and pension rights “.

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