Gainers and Losers from Economic Growth and Economic Recession
Gainers and Losers from Economic Growth and Economic Recession

Summary/Abstract: Economic growth is frequently presented as the source and direct bridge to the overall welfare development. The GDP per capita is frequently referred in this connection as a measure of economic and social development. However this argument is not sufficiently supported by data covering the welfare situation of the country. According the EU Statistics on Income and Living Conditions (EU-SILC) project, in 2010 there are around 17% of the EU citizens living under the at-risk-of poverty threshold. To address the missing links between economic growth and the broader social development dynamics, the income situation of the households in selected EU member countries over the last years is investigated using the EU-SILC data. The empirical results confirm that losers from economic growth and recession are unequally distributed towards female, young, elderly, unemployed, retired and less educated. Gains are pertaining to more educated persons implying a greater focus on opportunities to education and on labour market.

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