Advertisement
Share your view on the Big Issue and you could win £100 of John Lewis vouchers
Have Your Say
Social Justice

Under 30? You're getting poorer faster than any other generation

A decade's worth of research finds under thirties have endured the most marked increase in relative deprivation of any age group in England

A young person, seen from above, sits on the floor looking through a stack of bills in front of a laptop

If you’re under the age of 30, chances are you’ve been told you’ve never had it so good. “Your generation has it so easy,” your grandparents probably say.

But research released today by data scientists at the University of Manchester and published in the Journal of Epidemiology and Community Health has confirmed what mounting evidence has recently suggested – under 30s are financially struggling.

A decade’s worth of data sourced from the Office of National Statistics, starting in 2004, revealed that those under 30 are more likely to be living in poverty than older generations. Over 60s, on the other hand, are not only less likely to live in relative poverty but the inequality gaps between them and everyone else has increased over time.

The researchers cited university tuition fees and the increasing cost of housing coupled with real pay as factors in relative deprivation increases in under 30-year-olds.

Relative deprivation is defined as a standard of living below levels enjoyed by the broader society, to a high enough extent to introduce hardship, quantified across income, employment, education and skills, health and disability, crime, barriers to housing and services, and living environment. The data was calculated according to geographical units of 1500 people between 2014 and 2015, providing one of the most detailed pictures yet of how deprivation affects us across the country.

Cut out sandwiches to help solve housing crisis, says estate agent

Professor Evan Kontonpantelis from the University of Manchester said the housing market is arguably the most important interpretation of the findings.

Advertisement
Advertisement

“The average house in England and Wales costs 7.6 times the average annual salary in 2016, up from 3.6 times in 1997,” he said.“And these large increases in house prices over a relatively short period of time have provided a large advantage to the older generation, for who it was much cheaper to get on the property ladder.”

Kontonpantelis also highlighted salaries, finding that real pay fell sharply after the 2008 financial crisis, with recovery now largely negated post-Brexit.

So what does it mean for you if you’re under 30? Big changes to policy, according to Kontonpantelis.

“The inequalities this work highlights may have significant implications for future fiscal and healthcare policy.”

Advertisement

Never miss an issue

Take advantage of our special New Year subscription offer. Subscribe from just £9.99 and never miss an issue.

Recommended for you

View all
DWP blasted for blowing half a million pounds defending disability benefit cuts: 'What a failure'
Disability benefits

DWP blasted for blowing half a million pounds defending disability benefit cuts: 'What a failure'

Dozens use UK's first drugs consumption room in opening weeks – but 'barriers' still remain
a handful of syringed in packets on top of a blue face covering
Drugs

Dozens use UK's first drugs consumption room in opening weeks – but 'barriers' still remain

'We get sick, Meta get rich': Why the 'guinea pig generation' wants Labour to tax social media giants
Social Media

'We get sick, Meta get rich': Why the 'guinea pig generation' wants Labour to tax social media giants

DWP's benefit fraud crackdown blasted as an 'assault' on the 'disabled, sick and elderly'
A group of seven campaigners from Big Brother Watch stand outside Parliament to protest the Public Authorities (Fraud, Error and Recovery) Bill
Benefit fraud

DWP's benefit fraud crackdown blasted as an 'assault' on the 'disabled, sick and elderly'

Most Popular

Read All
Renters pay their landlords' buy-to-let mortgages, so they should get a share of the profits
Renters: A mortgage lender's window advertising buy-to-let products
1.

Renters pay their landlords' buy-to-let mortgages, so they should get a share of the profits

Exclusive: Disabled people are 'set up to fail' by the DWP in target-driven disability benefits system, whistleblowers reveal
Pound coins on a piece of paper with disability living allowancve
2.

Exclusive: Disabled people are 'set up to fail' by the DWP in target-driven disability benefits system, whistleblowers reveal

Cost of living payment 2024: Where to get help now the scheme is over
next dwp cost of living payment 2023
3.

Cost of living payment 2024: Where to get help now the scheme is over

Strike dates 2023: From train drivers to NHS doctors, here are the dates to know
4.

Strike dates 2023: From train drivers to NHS doctors, here are the dates to know