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Millennials have less to spend on non-essentials than older generations | Daily Mail

Millennials have less to spend on non-essentials than older generations | Daily Mail | In the news: data in the UK Data Service collection across the web | Scoop.it
Young people are spending 7% less on non-housing items than they were in 2001, a new study suggests.

An 'intergenerational audit' published by the Resolution Foundation assesses whether the 20th century norm of each generation enjoying higher living standards than their predecessors still holds true.

The report identified a number of intergenerational living standards challenges facing Britain, including the fall in money spent by 18 to 29-year-olds on non-housing items, including recreation and eating out, returning their pay to pre-financial crisis levels, and a 'long road' to recovery on home ownership.

UK Data Services insight:

This article references research using data which is part of the UK Data Service collection:

Annual Population Survey 

Annual Survey of Hours and Earnings

British Household Panel Survey 

English Housing Survey 

English Private Landlord Survey

Family Resources Survey 

Households Below Average Income 

Labour Force Survey 

Living Costs and Food Survey

New Earnings Survey Panel Dataset

Understanding Society

Wealth and Assets Survey 

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Pensioners now spend an extra £100-a-week on drinking and eating out, report finds

Pensioners now spend an extra £100-a-week on drinking and eating out, report finds | In the news: data in the UK Data Service collection across the web | Scoop.it
Partying pensioners have been unmasked as a generation of big spenders in a report which reveals that they spend more than £100-a-week on alcohol and eating out than their predecessors.

People aged 65-and-over living in the UK are increasingly likely to enjoy their retirement.

This is not only in contrast to their previous generation, but also millenials who are devoting a smaller amount of their spending on “fun stuff” such as recreational activities, clothing and footwear, restaurants, hotels, culture, alcohol and tobacco.
UK Data Services insight:

This article references research using data which is part of the UK Data Service collection:

Annual Population Survey 

Annual Survey of Hours and Earnings

British Household Panel Survey 

English Housing Survey 

English Private Landlord Survey

Family Resources Survey 

Households Below Average Income 

Labour Force Survey 

Living Costs and Food Survey

New Earnings Survey Panel Dataset

Understanding Society

Wealth and Assets Survey 

No comment yet.
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Under-30s 'spend less than same age group in 2001'

Under-30s 'spend less than same age group in 2001' | In the news: data in the UK Data Service collection across the web | Scoop.it
Young people under 30 are spending less on non-housing items than the same age group in 2001, a new report suggests.

The Resolution Foundation think tank studied changes in pay, housing, taxes and benefits to see if it was still true that newer generations are better off than their predecessors were.
UK Data Services insight:

This article references research using data which is part of the UK Data Service collection:

Annual Population Survey 

Annual Survey of Hours and Earnings

British Household Panel Survey 

English Housing Survey 

English Private Landlord Survey

Family Resources Survey 

Households Below Average Income 

Labour Force Survey 

Living Costs and Food Survey

New Earnings Survey Panel Dataset

Understanding Society

Wealth and Assets Survey 

No comment yet.
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Cash-strapped millennials are cutting back on ‘fun’ while pensioners are splashing out on good times –

Cash-strapped millennials are cutting back on ‘fun’ while pensioners are splashing out on good times – | In the news: data in the UK Data Service collection across the web | Scoop.it
CASH-STRAPPED millennials are cutting back on “fun” while pensioners splash out, a shock new report found last night.

In a report that laid bare the inter-generational divide, a think tank said 18-29 year-olds were having to spend £23 a week less on recreation, restaurants and booze than 20 years ago because of the rising cost of basics.
UK Data Services insight:

This article references research using data which is part of the UK Data Service collection:

Annual Population Survey 

Annual Survey of Hours and Earnings

British Household Panel Survey 

English Housing Survey 

English Private Landlord Survey

Family Resources Survey 

Households Below Average Income 

Labour Force Survey 

Living Costs and Food Survey

New Earnings Survey Panel Dataset

Understanding Society

Wealth and Assets Survey 

No comment yet.
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‘Consumption crunch’: Young people spending less than they did in 2001, research finds

‘Consumption crunch’: Young people spending less than they did in 2001, research finds | In the news: data in the UK Data Service collection across the web | Scoop.it
Young people today are facing a “consumption crunch” with their spending power less than it was in 2001, while baby boomers have experienced large gains in income, according to new research.

Those aged 18 to 29 are spending £380 per week on non-housing items, the Resolution Foundation found. The figure is 7 per cent less in real terms than what those in the same age group spent in 2001. 
UK Data Services insight:

This article references research using data which is part of the UK Data Service collection:

Annual Population Survey 

Annual Survey of Hours and Earnings

British Household Panel Survey 

English Housing Survey 

English Private Landlord Survey

Family Resources Survey 

Households Below Average Income 

Labour Force Survey 

Living Costs and Food Survey

New Earnings Survey Panel Dataset

Understanding Society

Wealth and Assets Survey 

No comment yet.
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Young adults have less to spend on non-essentials, study says | Inequality | The Guardian

Young adults have less to spend on non-essentials, study says | Inequality | The Guardian | In the news: data in the UK Data Service collection across the web | Scoop.it
Avocado on toast was the snack that became a synonym for millennial excess. But along with holidays and tickets to shows, dining out is proving beyond the budget of Britain’s youngest adults, who, according to new figures, have suffered a slump in their spending power for life’s non-essentials while their parents’ generation have splashed out with increasing abandon.
UK Data Services insight:

This article references research using data which is part of the UK Data Service collection:

Annual Population Survey 

Annual Survey of Hours and Earnings

British Household Panel Survey 

English Housing Survey 

English Private Landlord Survey

Family Resources Survey 

Households Below Average Income 

Labour Force Survey 

Living Costs and Food Survey

New Earnings Survey Panel Dataset

Understanding Society

Wealth and Assets Survey 

No comment yet.