Latest news with #genZers
West Australian
12-05-2025
- General
- West Australian
THE ECONOMIST: Forget millennials & gen Z, pity the forgotten generation X hitting midlife in the modern age
'We suffer', said Seneca, 'more often in imagination than in reality.' The Stoic philosopher could have been talking about the generations. Members of gen Z, born between 1997 and 2012, say that social media ruined their childhood. Millennials, between 1981 and 1996, complain that they cannot buy a house. Baby boomers, between 1946 and 1964, grouse that they face an uncertain retirement. Many forget about generation X, which is made up of those born between 1965 and 1980. Proxied by Google searches the world is less than half as interested in gen X as it is in millennials, gen Zers or baby-boomers. There are few podcasts or memes about gen X. Aside from Douglas Coupland's 1991 novel Generation X: Tales For An Accelerated Culture, which popularised the moniker, there are few books discussing the cohort. In Britain gen Xers are less likely than members of any other age group to know the generation to which they belong. Gen Xers may have no place in the popular imagination but, contrary to Seneca, they really do suffer. This is true both because gen Xers are at a tricky age, and also because the cohort itself is cursed. A recent 30-country poll by Ipsos finds that 31 per cent of gen Xers say they are 'not very happy' or 'not happy at all', the most of any generation. David Blanchflower of Dartmouth College finds all sorts of nasty things, from unhappiness to anxiety to despair, top out around the age of 50. This is consistent with the 'U-bend of life' theory, which suggests that people are happy when young and old, but miserable in middle age. Baby-boomers went through it; before long millennials will, too. The U-bend exists in part because chronic health issues start to emerge in middle age. People also come to realise they will not achieve everything they had hoped in their careers. On top of this, gen Xers often have to look after both their children and their parents. In America they devote 5 per cent of their spending to caring for people under 18 or over 65, against just 2 per cent for boomers. In Italy the share of 18-to-34-year-olds living with their parents has increased from 61 per cent to 68 per cent over the past two decades. In Spain the rise is even more dramatic. To which generation do many of these parents belong? gen X. In America, nowhere is life more U-shaped than in San Francisco. The city's idealistic youngsters believe that they will start the next big AI company, and are willing to put up with high costs and crime. Successful boomers live in enormous houses in Pacific Heights and sit on company boards. Gen Xers, in the middle, have neither the idealism nor the sinecures. Only 37 per cent are happy with life in San Francisco, compared with 63 per cent of gen Zers, according to a poll in 2022 by the local paper San Francisco Standard. Many have little option but to live in Oakland — the horror! — if they want a big house. Although gen Xers will in time escape the U-bend, they will remain losers in other ways. Consider their incomes. Gen Xers do earn more after inflation than earlier generations — the continuation of a long historical trend, and one from which both millennials and gen Zers also benefit. But their progress has been slow. A recent paper by Kevin Corinth of the American Enterprise Institute, a think-tank, and Jeff Larrimore of the Federal Reserve assesses American household incomes by generation, after accounting for taxes, government transfers and inflation. From the ages of 36 to 40 gen Xers' real household incomes were only 16 per cent higher than the previous generation at the same age, the smallest improvement of any cohort. Perhaps this poor income growth is a consequence of a stereotype that a range of psychological studies have confirmed: gen Xers are reluctant to be corporate drones, placing more emphasis on work-life balance and autonomy. It is no coincidence that in 1999, when gen Xers were in the prime of their lives, there were two hugely successful films in which people broke free of life's shackles. In 'The Matrix' Thomas Anderson, a computer programmer, discovers the world is an illusion simulated by intelligent machines. In the movie Fight Club, an office worker joins a secret society whose members kick lumps out of each other. All very exciting, of course — but hardly conducive to a solid career. Gen Xers have, to be fair, faced difficult circumstances. People's earnings typically rise fast in their 30s and 40s, as they move into managerial roles. Unfortunately for gen Xers, when they were in that age range labour markets were weak, following the global financial crisis of 2007-09. In 2011, for instance, the median nominal earnings of British people in their 30s rose by just 1.1 per cent. Earnings growth in Italy, which was hit hard by the euro crisis, was just as poor. And in Canada from 2011 to 2017 the real median earnings of people aged 35 to 44 years did not grow at all. Gen Xers have also done a poor job accumulating wealth. During the 1980s, when many boomers were in their 30s, global stockmarkets quadrupled. Millennials, now in their 30s, have so far enjoyed strong market returns. But during the 2000s, when gen Xers were hoping to make hay, markets fell slightly. That period was a lost decade for American stocks in particular, coming after the dotcom bubble and ending with the financial crisis. What about home-ownership, the ultimate symbol of intergenerational unfairness? The conventional narrative contrasts perma-renting millennials with boomers who enjoy six spare bedrooms. Yet data on American home-ownership, provided by Victoria Gregory of the St Louis branch of the Fed, overturns this received wisdom. In fact, the big decline in home-ownership rates happened from boomers to gen Xers. Starting in their late 30s and early 40s, gen Xers of a given age had a similar chance of owning as millennials do. Aversion to home-ownership is in some cases a choice. Gen Xers may have imbibed a passage from Mr Coupland's novel: 'When someone tells you they've just bought a house, they might as well tell you they no longer have a personality.' But, again, circumstances are probably a bigger factor. From their late 30s to their early 40s, the time when many people first get on the housing ladder, gen Xers suffered from the effects of the financial crisis. It became harder to get a mortgage. Some of those who already had one foreclosed on their house and went back to renting. Aggregate statistics capture all these trends. Jeremy Horpedahl of the University of Central Arkansas tracks average wealth by generation, using data produced by the Fed. He finds that, at 31, the millennial/gen Z cohort has about double the wealth that the average gen Xer had at the same age. Using survey data from the European Central Bank we find suggestive evidence of similar trends in Europe. From 2010 to 2021, millennials in the euro area tripled their nominal net worth, versus less than a doubling for gen Xers. The position of gen Xers may not improve much in the years ahead, particularly Americans. They could be the first to suffer owing to broken or changing retirement funding systems. America's social-security fund is projected to be depleted by 2033 — just as gen Xers start to retire — meaning benefits will be cut by 20-25 per cent unless Congress acts. Next time you see a quinquagenarian, at least give them a smile
The Guardian
27-04-2025
- Health
- The Guardian
We may be ‘the healthiest generation ever', but as I work out I wonder ... would I be happier at the pub?
A couple of years ago, I became obsessed with changing my body. Inspired by 'gymfluencers' and an Instagram feed filled with workouts and progress journeys, I dug into gym culture, often spending two hours weightlifting in one day, nauseous from chocolate-flavoured shakes and consuming more than 100g of protein daily to bulk my gluteal muscles and build a 'revenge booty'. Statistics suggest I am not alone. A recent industry report shows that gym memberships for gen Zers have risen quickly over the past few years, almost doubling since 2020. Moreover, 30% of this generation are regularly working out in fitness facilities, compared with 15-25% of the total adult population. It's been suggested that – since we're also drinking less – my generation is replacing the pub with the gym. 'With the right support, this could become the most health-aware generation ever,' says the chief executive of UKActive. Great news, you might think: finally, a generation so healthy it's going to live – happily and mindfully – for ever. But, as a 26-year-old with a love of beer and bench presses, I'm not sure it's that simple. While exercise and alcohol abstinence do improve health and prevent disease, I worry that this new gym craze actually reflects an atomised society, not a health-aware one. As I became obsessed with the gym, I certainly noticed that the things pushing me away from the pub and towards exercise were not positive thoughts, but fears – self-esteem issues, financial worries and an anxious desire to be maximising my time. I also suspect that the rush to the gym is partly driven by social media. It's hard to tell the difference between an obsession with health and an obsession with physical appearance, and we know the latter particularly affects the children who grew up on a diet of online fitness influencers who prioritise their looks: 40% of gen Z report that social media makes them anxious about how they look. Fifteen years ago, only the celebrities on TV had unachievable bodies; now seemingly thousands of 'normal' people do too. Given this environment, it is difficult for people not to compare and compete; a recent report shows that nearly half of gen Zers list 'improving their appearance' as a key reason they work out. It certainly is one of mine. This is sad, because the pub was a huge part of growing up for me – it's where my friendships formed and solidified. This has changed; now we have full-time jobs, work on projects in our spare time, go to the gym as much as we can and go to the pub less. I thought this was because we're getting older, but we're still only 26. It's not age, it's a generational shift in how young people live, and it's partly down to a lack of disposable income. The price of a pint has risen from an average of £2.30 in 2008 to more than £5 nationally, and much more in London, where I live. When I can go to my budget gym every day for £28 a month, hanging out over drinks with mates just doesn't add up. Hundreds of pubs a year are closing, maybe partly because they can't grab the younger consumer base they used to rely on. What used to be a regular meeting spot for my friends and me has become more of a special occasion; we all decline invites more readily, chalking it up to a need to save money. Unfortunately, I don't think the gym will ever replace the pub as a new 'third place' in which to make friends. The capacity for social engagement is undermined by most gym layouts – the heavy presence of mirrors, one machine per person. People mostly exercise with headphones on, eyes forward, staying in their lane. The gym seems more like a place to be productive, alone and silent as we endlessly pursue self-betterment. In my case, I gradually realised that I could never build a revenge booty big enough to get my ex back, and that exercising in front of the mirror and daydreaming about having a different figure wasn't empowering, but an obsession with self-improvement. I felt good because I was 'working on myself'. Actually, it's this phrase that is the problem – and the pressure put on people to supply value as we become increasingly competitive, commodified objects who feel we're only valued because of the quality of our assets, or our asses. Becoming aware of this changed my priorities. I only go to gym classes now; instead of changing my body, I focus on cardio and core strength, and try not to look in the mirror. Thinking less about my body has made me much happier. Yes, the physical benefits of exercise are undeniable. The physical toll of alcohol is undeniable too. But it doesn't necessarily add up that younger people spending less time in the pub and more in the gym is a better thing overall. For most, it would be nice to save a space that isn't reliant on this impulse to optimise. A space that exists for its own sake, which combines the benefits of the gym with the social benefits of the pub. Lately I've been enjoying playing Frisbee in the park with my friends. Maybe next time we'll take some cans. Isabel Brooks is a freelance writer
The Guardian
02-04-2025
- Health
- The Guardian
Healthy but lonely gen Zers drive UK gym membership to record high
Record numbers of Britons are going to the gym, as the desire of many gen Zers to socialise while getting fit instead of drinking in the pub drives an unprecedented surge in membership, a report shows. In all, 11.5 million people aged 16 and over– a new high – now belong to a gym in the UK, a rise of 1.6 million from 2022. It means one in six people have taken out a membership. Younger adults are the key demographic behind the boom, according to the report's authors, UKActive, the trade body that represents most of Britain's fitness operators. The growth is particularly evident among generation Z – people born between 1997 and 2012, who are between 13 and 28 – who already have a reputation as the healthiest generation ever. '[This] is a significant moment as it shows that more people are making a conscious decision to get active in order to improve their physical and often also their mental health,' said Huw Edwards, UKActive's chief executive. 'We are witnessing strong demand among all age groups and increasing popularity among gen Z, with health and fitness clubs experiencing growing demand for services such as group exercise, strength training and cardio workouts. 'Young people are seeing health and fitness as part of their identity and a non-negotiable when it comes to their personal priorities. Many of them are telling us they prefer going to the gym rather than more traditional venues for socialising such as the pub. 'With the right support, this could become the most health-aware generation ever.' The findings tally with previous reports by Sport England and its 'moving communities' research into physical activity that growing numbers of teenagers are taking part in fitness activities. A 'generational shift' in gym visiting has been taking place in recent years, states the report, which is UKActive's first in-depth analysis of membership of health and fitness clubs across the UK. 'Younger generations are demonstrating higher levels of physical activity and gym membership, indicating a shift in societal priorities towards health and wellbeing, and suggesting that for younger people, gym membership is essential.' Older people are the most likely to avoid joining up because they believe they do not need to, 'indicating that the positive shift in mindset towards fitness is more prevalent among younger age groups', the report adds. The findings appear to embellish gen Z's reputation as having healthier habits and lifestyles than previous generations. David Minton, the founder of Leisure Database, a specialist fitness market analysis firm, said: 'The younger generation are also the healthier generation because they are drinking less alcohol than their predecessors and are much more conscious about what they eat, as evidenced by the increase in veganism, low-sugar diets and consumption of sourdough breads.' But young people may be going for reasons not connected to their health, Minton suggested. 'Gen Z are also going to the gym in order to meet a romantic partner and to increase their network of friends because, while they spend a lot of time on social media, the gym offers an in-person experience rather than a virtual experience. 'For them, gym-going is all about the social element. It's not about losing weight, because most of them don't need to.' The value of the UK health and fitness market grew to £5.7bn by last year, while the number of clubs stood at 5,607, which between them saw 616m visits. An increase in lower-cost gyms and those offering access on a pay-as-you-go basis has also helped to increase participation, the report says. When gym members were asked what motivated them to join, 83% cited improving their physical strength and fitness and 76% said boosting their mental wellbeing, including tackling anxiety and depression. But 75% wanted to improve their confidence and appearance, and 68% to sleep better. The proportion of people in the UK who belong to a gym has risen to 16.9%, one of the highest figures in Europe.
The Guardian
25-03-2025
- Business
- The Guardian
What the budget means for your generation – gen z, millennial, gen X or boomer
Gen Z is often characterised as the carefree generation since we grew up relatively stress-free, but in adulthood we have become the most anxious generation thanks to the housing crisis, GP affordability and the debt that comes with choosing to study. Now many of us are struggling to decide if we can afford to move out of the family home, having to choose between buying groceries or paying bills, if we have enough after paying rent to afford a GP visit or seek mental health support, and whether we can even afford to start our own families. The federal budget has not done much to encourage a change of mindset. The government will provide additional funding of $46m over four years to continue digital mental health services and more than $650m over three years to add 50 Medicare urgent care clinics around the country. For gen Z women there is a share of $240.4m over five years in women's health funding, including $20.9m to provide specialist care and support for women experiencing endometriosis and pelvic pain. In education, the government will provide funding to establish more university study hubs. And, as previously announced, it will cut the Help loan program and other student debts by 20%, bringing cost-of-living relief to gen Z students. Many gen Zers who rent will be among the 1m households who benefit from the 45% increase to maximum commonwealth rent assistance, also previously announced. – Eelemarni Close-Brown Sign up for Guardian Australia's breaking news email Like many millennials, I am at that strange stage of life where we spend more time in GP waiting rooms with small snotty children than sitting at a bar – so the reduction in beer tax is interesting but it's the funding injection to bulk-billing services that has me frothing. Investing in better healthcare for women, with a focus on menopause treatment, comes at a good time for us. And yes, tax cuts and an extra $150 off our electricity bill indeed sends a message that those boomer politicians can sense our suffering as we struggle under the weight of unfulfilled adulthood and a cost-of-living crisis. But those savings won't put much of a dent in our enormous mortgages or soaring rental payments. What's really needed is ambitious policy to fix the housing crisis – expanding the Help to Buy scheme is promising, but how about building more three-bedroom apartments and getting rid of negative gearing? Oh and 'putting schools on the path to full and fair funding'' sounds nice but the public schools near me need more than that so that our kids can look forward to the same opportunities, no matter how much their grandparents have saved. – Hannah Parkes I scraped into the gen X cohort by a few weeks – so I don't feel totally representative of the broader generation that stretches, depending on definition, from about 1980 to 1965. Many of the concerns I have are shared with millennials: housing affordability, education funding, health and cost of living. Like many of my generation I have school-aged children, so it's good to see additional budget funding via state federal agreements. Also, increased funding for the social safety net via Medicare, the NDIS and PBS are all welcome but it's disappointing that the government has again failed to increase the jobseeker rate, which remains woefully inadequate for any age group. Sign up to Breaking News Australia Get the most important news as it breaks after newsletter promotion Most gen-Xers are in the most expensive part of their lives with mortgages and children, so tax cuts come in handy. Over the past decade or two, the overall tax burden is increasingly being loaded on to younger working generations (gen X,Y and Z) through income tax. There's not a lot for housing affordability in the budget. Banning foreign buyers from buying existing homes is not really new and makes little difference in the scheme of things. Similarly, there's very little on climate and the environment in this budget, something important for gen-Xers who want to see their children inherit a livable planet. One thing that separates gen X from gen Z is that I do like to sometimes crack open a beer rather than drink a turmeric latte after run club. Fortunately, I've been given a tax reprieve, with the excise on beer being paused for the next four years. I'll drink to that. – Patrick Keneally Other generations can be quite mean about boomers' economic advantages, which is understandable. But the downside is, we are now getting quite old, and so the health and aged care provisions in the budget loom ever larger. The previously announced spending to limit the price of medicines on the pharmaceutical benefits scheme to no more than $25 a script will disproportionately benefit older Australians. They will also want to take advantage of more opportunities to visit a bulk-billing GP, and seniors and pensioners are among those targeted by the 4.7% increase to the Medicare levy for low-income thresholds. Those of us at the younger end of the boomer spectrum may not want to think about later stages of life just yet, but $2.6bn spent on pay rises for aged care nurses feels like money well spent. Contrary to popular misconceptions, we don't just think about ourselves (and of course not all boomers are lucky enough to be property owners). If the support for renters and proposals to help would-be first home buyers into the property market have some effect, we will all be better off. There is one smaller investment that seems to have boomers written all over it – $6.7m to extend the operation of the National Anti-Scam Centre. I can't help feeling that won't be nearly enough. – Mike Ticher
The Guardian
22-03-2025
- Business
- The Guardian
Exclusive: 20% of Americans support boycott of firms aligning themselves with Trump agenda
One in five Americans plan to turn their backs for good on companies that have shifted their policies to align with Donald Trump's agenda, according to a new poll for the Guardian. As high-profile brands including Amazon, Target and Tesla grapple with economic boycotts, research by the Harris Poll indicated the backlash could have a lasting impact. 'Companies and consumers are playing a high-stakes game of chicken – corporations betting on convenience winning out over conviction, while consumers wield their spending power like a weapon,' said Libby Rodney, chief strategy officer at the Harris Poll. 'The data suggests this is a miscalculation,' she said. 'When 20% of Americans are permanently changing their consumption habits and nearly a third of boycotters say they'll hold out indefinitely, convenience may no longer be the decisive factor companies think it is.' When asked about the boycotts that have been making headlines over the last few weeks, 36% of Americans said they are or will be participating. The strength of feeling varied significantly among people of different generations, races and political views: 53% of gen Zers and 46% of millennials said they are participating in boycotts, compared with 30% of gen Xers and just 22% of Boomers. Over half of Black (53%) and Hispanic (51%) Americans are boycotting, compared with 29% of white Americans. Democrats (49%) are far more likely to be boycotting now than independents (32%) and conservatives (29%). When given a list of reasons why they are boycotting, Americans said the top reason was they want to show companies that consumers have economic power and influence (53%) and express their dissatisfaction with current government policies (49%). Nearly half of those boycotting (46%) also pointed to companies rolling back their diversity, equity and inclusion (DEI) policies as a reason behind their boycott. It's difficult to track the tangible impacts boycotts have on companies and exactly how many people participate in them. Many start on social media, but other consumers have said they made the decision to move away from companies on their own. Some groups have coordinated boycotts within their communities in recent weeks, particularly in response to companies like Target, Amazon and Walmart rolling back DEI measures. Target, for example, ended hiring goals for marginalized groups, while Walmart said it will no longer prioritize finding suppliers that are women- or minority-owned companies. Some Americans feel companies are giving up core moral values in bowing to the president. The Rev Jamal Bryant, a pastor based in Baltimore with a large social media following, called on his followers to give up spending money at Target for Lent, which started on 5 March and lasts until 17 April. 'These rollbacks represent more than just corporate decisions; they reflect a deeper erosion of the moral and ethical commitment necessary to build a just society,' Bryant wrote on the website he made for the boycott, 'This Lent, we will begin a corporate fast, starting with Target, as a spiritual act of resistance.' Hispanic activists have similarly called on their community to boycott companies, calling it the Latino Freeze Movement. The movement calls for a boycott on companies that have scaled back their DEI initiatives, and asks for participants to not spend money on non-essentials 'until they show us that they care about our minority and immigrant populations'. Last month, a Harris poll found that 31% of Americans have reported similar goals to 'opt out' of the economy this year in light of the changing political climate. The companies have said that they are responding to a changing legal environment around DEI. DEI has been a flashpoint in the culture wars for years, with conservatives arguing that it unfairly discriminates against groups that have historically been in the majority, like white Americans. On the campaign trail, Trump vowed to abolish DEI, and he signed multiple executive orders ending DEI programs within the federal government as soon as he came into office. The impact that the administration can have on efforts in the private sector is still unclear, but some companies appear willing to risk losing customers instead of taking their chances.
