From Past to Present: How Recessions Shape Job Loss Perceptions in Europe

ABSTRACT Past recessions can leave enduring marks on how individuals perceive labor market risks. Drawing on survey data from 29 European countries, this article shows that recessions experienced between ages 18 and 33 heighten perceptions of job loss risk well into adulthood. The persistence of these scars depends on context: education mitigates them, technological change amplifies them, and stronger labor market protections weaken them. The findings suggest that early macroeconomic experiences shape not only economic outcomes but also persistent attitudes toward job security, with implications for resilience and policy design.