Britain: Young People Suffering Their ‘Worst Economic Prospects for Several Generations’
November 2nd, 2015Via: Independent:
Young people are suffering the “worst economic prospects for several generations” as a worrying age inequality gap is opening up in Britain, according to a major state-of-the-nation report.
In its biggest review yet of equality across the country, the Equality and Human Rights Commission (EHRC) identified the winners and losers in modern Britain.
Younger people have been hit by the greatest drop in income and employment in recent years compared with older age groups. They also face even greater barriers to achieving economic independence and success than they did five years ago.
That is interesting data, as far as generational position. On the N. american large west coast cities (which have similarities with London), the common dialog is that young techies who arrive in all these cities in large numbers from elsewhere are responsible for driving house and rental prices up (where even if the inflation rate is low, the sharply rising rent, healthcare, and education costs make it feel like inflation is high). Many don’t address or understand the other groups driving up prices, which would be the traditional wealthy with investment and stock income, and international wealthy. I also noticed that the word ‘hipster’ (who are widely blamed for rising prices, like the techies) has widely changed from its original definition similar to ‘bohemian’, and now it is a synonym for yuppie – maybe the link is the preference for organic food from Whole Foods, and their return to downtown neighborhoods which were preferred by bohemians 15 years ago when crime was twice as high.