Recession creates ‘lost generation’ among under 45s

The creation of a “lost generation” may have emerged as a result of the recession that hit Ireland over the last few years.

A report by the Economic and Social Research Institute (ESRI) has highlighted how younger households are bearing the burden of the financial crisis much more than older ones.

Data analysed by the Government’s economic think tank shows that unemployment, mortgage arrears and negative equity are major concerns for families where the head of the household is under 45 years.