Starting your career in a recession f's your life up; decreases life expectancy

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For millions of young people who came of age amid the financial crisis of 2007-08, entering the labor market starting on a career path in the depths of the Great Recession could have long-term health consequences.

In addition to affecting net worth and long-term family outcomes, including marriage and cohabitation with children, starting on a career path during a deep recession can take years off your life, new Northwestern University research suggests. The study is published as a working paper in the National Bureau of Economic Research and has not yet been peer-reviewed.

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In middle age, unlucky labor market entrants earn less and work more while receiving less welfare support. They are also less likely to be married, more likely to be divorced, and less likely to be cohabitating with own children, the study found.

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“Overall, these findings raise concerns that entering the labor market in a recession may have larger consequences than current estimates on earnings suggest,” Schwandt said. “Yet, so far these broader and longer-term effects have not been the focus of the literature on recession entrants.”

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