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Scarring occurs when an adverse experience for a worker - associated with macroeconomic conditions - has negative long-term impacts on their labour market outcomes For example, a worker who is entering the labour market during a macroeconomic downturn may experience a spell of unemployment or have to take a job for which they are over-qualified - and those experiences then affect the worker\'s labour market outcomes in future years Recent studies find that scarring effects are substantial: for example, the main Australian study on scarring finds that graduates entering the labour market at a time when the youth rate of unemployment rate is 5 ppts above average lowers annual earnings of graduates by about 8 per cent at the time of entry and by 3 5 per cent after five years This article reviews Australian and international evidence on scarring;and provides an overview of the main channels through which scarring occurs
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Australian_Journal_of_Labour_Economics
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Scarring effects: A review of Australian and international literature
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