Socio-economic insecurity perceptions and their societal determinants: Europe in the aftermath of the Great Recession

Abstract

ABSTRACT The 2008/09 economic crisis was – unsurprisingly – paralleled by noteworthy perceptions of socio-economic insecurity among Europeans. Respondents in different countries reported more or less grave fears of employment and income insecurity depending on their respective countries’ performance during the crisis. Against this background, we are interested in the manifestations of perceived socio-economic insecurity and their macro contextual determinants. After formulating hypotheses regarding socio-economic and welfare-institutional factors, we test them by using two rounds of the European Social Survey (fielded in 2008/09 and 2016/17). Based on three-level regressions with between-within models of 23,000 individuals (11,611 individuals in 2008/09 and 11,389 individuals in 2016/17) nested in 34 country-years and 17 European countries, we find that the level of perceived socio-economic insecurity in 2016/17 was generally lower than in 2008/09. Additionally, we reveal differences in the effects of the socio-economic factors and welfare-institutional factors between and within countries. These findings suggest that the inconsistency of the results of contextual factors among previous studies might stem from jumbling between- and within-country effects.