Shocks are more common and living standards rising less rapidly than in the past
Infra-annual income instability contributes to a substantial fraction of total instability
Upward mobility increased in many European OECD countries after the GFC
Upward mobility makes a small contribution to total income instability in most European OECD countries
Income instability is associated with higher levels of downward mobility and inequality in European OECD countries
Household market income instability is lower when more household members have job security
Household composition and employment levels explain an important fraction of country differences
One-third of individuals in working-age households spend at least a few months in poverty
Almost one-in-two people living in working-age households are financially fragile
More than 40% of individuals in middle-class households are financially fragile
Low education, low income, renting and having multiple children are strong predictors of financial fragility
Almost one in six people in working-age households are economically insecure
Economic insecurity is greatest in households with children and an intermittent attachment to the workforce
The economic insecurity penalty associated with employment varies across countries
Economic insecurity is strongly correlated with perceived risk of unemployment over the next 12 months
Workers in occupations that are exposed to economic insecurity are less likely to reap the benefits of AI and are more at risk of automation than workers in more secure occupations
Social benefits reduce instability by 40% on average across European OECD countries
The share of means-tested benefits varies widely across European OECD countries