People will be affected most by how they benefit from economic growth and howwell they can adapt to change. We can measure how well we benefit from economic growth — i.e. salaries and the cost of housing — or are negatively impacted by the loss of jobs through automation or offshoring, rent increases making people downsize, etc.
Another aspect we consider is the predictive measurement of people’s needs, such as health, education, employment, and the likelihood of specific outcomes like illness, homelessness, or voting.
The influence of structural factors at both personal and neighbourhood levels on individuals’ ability to leverage economic growth or withstand a recession is a complex and multifaceted issue. These factors, such as education, homeownership, and health needs, play a significant role in shaping economic growth and change outcomes.
For example, a person with low education but who owns their own home will benefit in an area that is regenerating, and house prices are increasing compared to someone with higher levels of education but who rents might end up being priced out. Likewise, someone with health needs in an area with solid infrastructure and support networks is likelier to improve.
The question of adaptability is a pressing one. How do we ensure that individuals, whether they are factory workers in automated sectors or disabled individuals leaving school, have the necessary skills and support to adapt to change?
Now, let’s delve into a specific analysis regarding young people and their adaptability to change.
