Young People Hit By Spending Squeeze As Falling Incomes And Rising Housing Costs Take Their Toll

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.