EXCEPT is a H2020 project led by Tallinn University. EXCEPT is an interdisciplinary and internationally comparative project that strives to provide a comprehensive understanding of the consequences of youth labour market vulnerability to risks of social exclusion in Europe. A multidimensional dynamic perspective on both objective and subjective dimensions of the social exclusion of young people was adopted in order to identify the complex interrelationships and potential risks of cumulative disadvantages and possible compensatory mechanisms. Specifically, implications of labour market insecurities for youth’s risks of poverty and material deprivation, their subjective well-being and health status as well as their ability to reach independence from the parental home are to be investigated in a mixed-method approach which includes qualitative interviews, quantitative methods and expert interviews and policy analyses.