Developments in wellbeing of European Union countries since 2007

Abstract

This dissertation profiles the consequential repercussion of the global and economic recession on wellbeing across all 28 European Union (EU) Member States. This study analysis the foremost components of wellbeing, being income, employment, education, and health and longevity. The research employs disaggregated data on Gross Domestic Product (GDP) per-capita in Purchasing Power Standards (PPS) and other quality of life indicators such as, Human Development Index (HDI), At Risk of Poverty or Social Exclusion (AROPE) and expectations of citizens with the aim to examine the compelling developments in wellbeing between 2007 and 2017. The study finds that, the effect of the recent recession has had a severe toll on citizens’ expectations and wellbeing. Real GDP contracted across several EU Member States, particularly within the euro area. Unemployment surged while individuals’ AROPE rose to unprecedented scales. Furthermore, the study also unveils that employment rates, life expectancy and trends in human development throughout the years experienced modest declines, however, it seems that indices are ramping up as lowest rates have already been recorded. Tertiary education remained endlessly below the expected years of schooling, in all years and within all nations. These findings are particularly important to policy-makers to understand and further promote the bearing consequences of the crisis on individual’s wellbeing.