The Impact of Parents on Children's Economic Prospects
October 27, 2024
The financial situation and educational level of parents influence the future economic prospects of their children. According to Eurostat research, young people who faced poor economic conditions during adolescence are more likely to live in poverty in adulthood. In 2023, the poverty risk rate in the EU for people aged 25-59 who reported their household financial situation as poor at age 14 was significantly higher than for those who rated it as good. The findings highlight the connection between early economic conditions and educational achievements in adulthood.