Young Spaniards are working more but moving out less. According to a Comisiones Obreras (CCOO) report, the share of young people able to live independently has fallen -10pts since 2016 (41% to 31%)—the steepest decline in Europe over the past decade. That’s despite the major improvements in the youth labour market, as both unemployment and temp contracts have fallen. But employment improvements haven’t translated into greater independence since housing costs are eating up the gains. CCOO says rent can consume as much as 96% of a young worker’s salary. And young Spaniards aren’t the only ones experiencing this problem: research shows young people in several European countries would need to spend more than 80% of the median wage to afford a standard two-room rental. (Brussels Signal)
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