Great Recession leaves millions more children in poverty
Since the Great Recession hit in 2008, progress for children has taken a great leap backward. In developed countries, 2.6 million more children are living in poverty, and many wealthy countries have lost 5–10 years of income progress. Is economic recovery on the horizon? Not for children, according to UNICEF’s newly launched Innocenti Report Card 12 “Children of the Recession: The impact of the economic crisis on child well-being in rich countries.”
Millions more children could have been helped if protection policies had been stronger before the crisis. Such policies are an investment, and a failure to maintain financial support and services for children and their families at a time of recession has high costs. It leads to a deepening of child poverty and exclusion. It has immediate negative consequences for children’s well-being and development and puts their rights at risk. And over the long term, it has serious consequences for children’s development and for the well-being of society and the economy as a whole.
About the report:
Launched by Innocenti, UNICEF’s Office of Research, “Children of the Recession” is a unique report because it is one of the few times UNICEF has focused on the status of children and youth in the 41 wealthiest countries in the world.