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Young Adults 'bearing Brunt Of Recession', Says Leading Thinktank

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Institute for Fiscal Studies finds people in age group have found jobs hard to find

"Pay, employment and incomes have all been hit hardest for those in their 20s. A crucial question is whether this difficult start will do lasting damage to their employment and earnings prospects...

A quarter forced to live at home with heir parents also had higher than average disposable incomes, though the need for parental subsidies is likely an indication of the low pay rates and often insecure working practices on offer to younger workers."


http://www.theguardian.com/business/2014/jul/15/young-adults-bearing-brunt-of-recession

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This was covered on the Today programme... it was claimed that pensioners now enjoy the highest living standards of any group.( I presume this must taken into account their multi trillion pound net assets and low commitments as opposed to income)

Generation Y charity shops may be to replace Help the Aged....

http://www.bbc.co.uk/news/business-28305804

Edited by crashmonitor

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Young adults need to get off their backside and vote against Tory and labour alike.

If your young...spread the word...the UK needs real change.

Going to take some turning around.,..education and housing policies have been contrived to load generation y up with debt and enabled those 50+ to be the rent seekers .......university salaries and pensions, BTL portfolios, housing equity, basically boomers hitting the jackpot.

Edited by crashmonitor

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This was covered on the Today programme... it was claimed that pensioners now enjoy the highest living standards of any group.( I presume this must taken into account their multi trillion pound net assets and low commitments as opposed to income)

Generation Y charity shops may be to replace Help the Aged....

http://www.bbc.co.uk/news/business-28305804

From a tweet a saw, I think the higher median pensioner income is after housing costs but need to check this.

Have cake and eating it.

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Young adults need to get off their backside and vote against Tory and labour alike.

If your young...spread the word...the UK needs real change.

Going to take some turning around.,..education and housing policies have been contrived to load generation y up with debt and enabled those 50+ to be the rent seekers .......university salaries and pensions, BTL portfolios, housing equity, basically boomers hitting the jackpot.

I agree with both of the above.

The problem is that young people have been educated and conditioned by the very people who rape and pillage them. It is going to take a lot more pain and suffering before the revolution comes.

I watch some of our neighbours in Europe like a hawk with their 40+% youth unemployment and they still keep an alarmingly high level of civil obedience.

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Young adults need to get off their backside and vote against Tory and labour alike.

If your young...spread the word...the UK needs real change.

I don't think UKIP is the answer in this case. They're Tories on steroids when it comes to old NIMBYs.

Greens? They don't have the momentum.

There's no one else! :(

Edit: Spelling

Edited by Eddie_George

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From a tweet a saw, I think the higher median pensioner income is after housing costs but need to check this.

Have cake and eating it.

The Telegraph thinks so, and a laughing all the way to the bank photo to boot.....

(edit, I guess the higher pensioner income compares pensioner income to the average of all working ages, so there will be higher individual cohorts that are working....however, as it doesn't factor in wealth it is cake and eating it)

http://www.telegraph.co.uk/finance/10967371/Pensioners-have-never-had-it-better-IFS-report-suggests.html

Edited by crashmonitor

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I don't think UKIP is the answer in this case. They're Tories on steroids when it comes to old NIMBYs.

Greens? They don't have the momentum.

There's no one else! :(

Edit: Spelling

Nailed it.

UKIP are a pensioner heavy party.

They're the opposite of what Generation Y needs.

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It is true that we have been borrowing from the future for many years now....hardly the fault of ordinary older people, where debt was something you never got into, they are in the main not to blame, it is the debt based system and soaring asset/land and housing that is to blame.....instead of loading up with debt refuse to play the game they want you to play.....no gain without some pain. ;)

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aaargh - boomer bashing again - it is so tedious

the crucial comments from the reported study are below

By contrast, pensioners have been the biggest beneficiaries. In 1992 their income was 20 per cent lower than working-age households, equivalent to £256 a week in real terms.

By 2012-13, however, the average income of pensioner households had risen to £388, 5 per cent more than working-age households.

the majority of pensioners do not have incomes of £388 p.w - and a 5% rise is hardly earth-shattering

in 1992 - I doubt that most pensioners had an income anywhere near £256 p.w

and of course the figure of 77% of pensioners being homeowners would be because they paid off their mortgages by working hard - stating the obvious so why are they being slated for that - it is their home, they bought it and they live in it.

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Going to take some turning around.,..education and housing policies have been contrived to load generation y up with debt and enabled those 50+ to be the rent seekers .......university salaries and pensions, BTL portfolios, housing equity, basically boomers hitting the jackpot.

Majority of boomers are being hit just as hard, Having to work for longer as OAP not enough to keep up with the cost of living, what percentage of retired people are on university pensions? I know OAPs who are still working, and its not through choice.

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I find it very surprising that pensioner income is higher than those working. Perhaps not so much a case of pensioner income going up but globalisation taking a sledge hammer to wage growth.

Not so much tedious more of a shocking stat.

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Awaytogo..........Indeed I am a boomer and I will have to wait til 67....35 years nic down, 17 to go, courtesy of starting at 15.

Edited by crashmonitor

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Going to take some turning around.,..education and housing policies have been contrived to load generation y up with debt and enabled those 50+ to be the rent seekers .......university salaries and pensions, BTL portfolios, housing equity, basically boomers hitting the jackpot.

Rents have gone nowhere in a decade and a half. The losers will be those who bet on never ending HPI, they will never sell their house in many cases. Youth and good health are priceless anyway.

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All the young peoples problems look very familiar from 30 years ago ...

What's changed? It's the coming of the 'net, and social media. Instead of being invisible to the chattering classes, they're making their voice heard through online media.

Give it time, and that voice will gain more influence. Gradually, and issue-by-issue. But of course it's not a single voice, and sometimes that voice can be counterproductive. For example, "Help to Buy" is almost universally condemned, but while there are some young people in favour it's a bit too easy to dismiss the naysayers as a bunch of I'm-alright-jack homeowners.

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Rents have gone nowhere in a decade and a half. The losers will be those who bet on never ending HPI, they will never sell their house in many cases. Youth and good health are priceless anyway.

True

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Rents have gone nowhere in a decade and a half. The losers will be those who bet on never ending HPI, they will never sell their house in many cases. Youth and good health are priceless anyway.

I think the figure is, down 40% relative to incomes over 15 years.

So much cheaper relative to house prices, though not relative to mortgage rates.

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All the young peoples problems look very familiar from 30 years ago ...

Yes I hear some horror stories of people having to wait until they were 21 before they could buy a house! The horror!!

This difference now is that this cohort of innocent victims includes most people under 40.

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So if young folk are shafted who is gonna buy all these million pound ex council houses then? the chinese?

If I was young I wouldnt bother my ar5e, Id just sit in my parents basement play xbox, drink and smoke. B*ll*cks to enslaving yourself for a sh!t house, wasting your youth working a job you hate so someone else can steal your labours. Just go have fun and refuse to participate.

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So if young folk are shafted who is gonna buy all these million pound ex council houses then? the chinese?

If I was young I wouldnt bother my ar5e, Id just sit in my parents basement play xbox, drink and smoke. B*ll*cks to enslaving yourself for a sh!t house, wasting your youth working a job you hate so someone else can steal your labours. Just go have fun and refuse to participate.

The Irony.

For the record, The Xbox would be in the bin and I would be out on the Town.... drinking, smoking, taking drugs and shagging.

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Scotland could soon become the land of milk and honey if they get independence and Salmond plays his cards right.

Scotland would be an easy country to emigrate too as you don't have to learn another language. The fun and games that would ensue if large parts of our youth population move north.

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