The aim of this paper is to analyse the relationship between household employment insecurity and the risk of children's exposure to household material deprivation in Spain and Portugal. Specifically, using EU-SILC microdata for 2012, 2016 and 2020, it examines how this relationship evolved during the Post-Great Recession period. Although in both countries there was an improvement in the employment situation of individuals and families after the Great Recession, the main findings reflect an increase in the risk of children's exposure to material deprivation in households where no adults have a secure job. However, there are some differences between the two countries. In the case of Spain, the results seem to indicate that the incidence of household employment insecurity on material deprivation was higher in 2016 and 2020 than in 2012. In Portugal, the increase in the effect of employment insecurity on deprivation seems to have occurred only in 2020, the year the Covid-19 pandemic began.