It’s Official – Your Parents Had It Easier Statistics
The Intergenerational Fairness (IF) Index is a yearly report about the prospects of young people in relation to the generations that have come before them. It measures this on a scale with a variety of factors including career prospects, education, health, housing and debt, and then cross-examines this against an idex of each year that has come before.
What the index has found is that there has been a 10% decrease in the prospects of today’s youth compared to the opportunities given to their parents, so next time your parents say something like “you wouldn’t get this back in my day,” you can explain to them that no, you probably wouldn’t, because everything looked a lot brighter then.
When you consider the latest budget from the Chancellor as well, with housing benefits slashed, maintenance grants pulled and tax credits reduced, it doesn’t look like this is going to be improving any time soon, and leaves quite a bleak summary of today’s climate – the UK is failing its youth more than ever before.
Put in an economic context – wages have stagnated for 20-somethings since 2010, and house prices continue to rise, making the idea of ever owning property somewhat of a pipedream for millennials. As such, the IF is calling out the government on the back of this index, to address the issues highlighted in the report – starting with affordable new housing and a fairer restructuring of tuition fees.
Angus Hanton, co-founder of IF, stated: “Younger generations have been systematically disadvantaged compared to older generations over the past five years, and unless urgent action is taken, those younger generations will become locked further out of housing, unable to access state help, and made to pay ever higher costs for higher education.”
It all makes pretty grim reading , but at least it gives you an ace in the hole next time someone tries to tell you that you ‘don’t know you’re born’ or whatever cliché they come up with next to tell you (incorrectly) that the youth have it easy!
By Jack J Collins, Editor, AllAboutCareers.com
Image courtesy of Wikipedia, 'Don Grady William Demarest - My Three Sons'
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