ABSTRACT
This chapter argues that people under the age of 35 in the UK, US, Australia, France and Spain do indeed face an increasing economic burden of deprivation, inequality and disadvantage relative to older people. It explores income inequality, wage rates and employment; highlights both how young people today are faring compared to older people today, and looks at how young people today are faring compared to other generations when they were young. The chapter addresses what this means for one major type of wealth and asset: home ownership. Young people's incomes are lower and, on the whole, getting worse and this is being reflecting in their poverty levels. In Spain, the recession has dramatically increased youth poverty. In Spain, underpinning tremendous reductions in young people's incomes, and the associated increased risk of poverty, there has been a very large increase in joblessness across all age groups.
