Young people have experienced the tightest squeeze on
household spending since 2000 and now consume 15 per cent less than older
working age people on items other than housing, according to a new report by
the Resolution Foundation. The finding of a consumption ‘youth deficit’ is in
stark contrast to common claims that today’s young are spending like there’s no
tomorrow and mark a major turnaround from the recent past when earlier
generations experienced a ‘youth premium’. Consuming Forces tracks the spending patterns of different age
groups since the 1960s to see how changes in earnings and incomes have fed
through into what people spend their money on from week to week. Read more on
the Resolution Foundation website.
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