As the world continues to grow, the generation born in the 1980s-1990s is the first since the industrial revolution to be less wealthy than its parents at the same age.
The millenials, big forgotten of the world growth. The so-called "millenials", the generation born in the 80s and 90s, are the forgotten ones of global growth. This is what emerges from a study of "Credit Suisse" on wealth in the world.
The world continues to grow rich. + 2.6% again last year. Indeed, there is an age group that, it, completely misses this enrichment. The "millenials" is the generation that entered the working life after the year 2000. And the evils that strike this generation are well known: First, the uberization of work. Despite a school curriculum more provided, this generation is imposing precariousness. Caricaturing, they deliver to Deliveroo, paid to the commission.
And then second point, real estate. The activity was concentrated in metropolises, large cities where real estate has soared. And for this generation, it's too late, they come after the battle. Real estate has become inaccessible. We summarize: precarious work and no roof. For the first time since the industrial revolution, in Western countries - the generation of 25/34 years is less rich than its parents at their age.
It's terrible as a report! Can we hope that things improve for these "millenials"?
I do not know if cynicism but, the Swiss credit writes, and it's terrible, that a solution is "to wait for the inheritance". It is frankly quite shocking and hopeless. First of all because, and this is so much the better, with the extension of the life one inherits more and more later, and especially above all it is very inegalitarian and very infantilizing to wait for the inheritance or the help of his parents.
Of course this situation is untenable and pushes to despair. Besides, watch all these protests, sometimes very violent, in Santiago, Chile, Beirut, Lebanon, Hong Kong, and even Barcelona. Every time, in the streets, we have these famous millenials who claim ... dignity.