Young Finns Fall Behind Older Generations on Income Growth
6 Articles
6 Articles
Young Finns fall behind older generations on income growth
Income growth among young adults in Finland has fallen behind older generations, with people under 35 still earning less in real terms than before the 2008 financial crisis, according to a purchasing power review published by STTK on Tuesday. The Finnish Confederation of Professionals said its long-term figures show a widening gap between age groups. While real incomes have risen across all generations since 1966, older workers have received a l…
Income gaps among young age groups have increased, especially during the current decade, reveals the STTK's purchasing power survey.
Young adults have not recovered from the financial crisis and are suffering from a decline in purchasing power. Men's purchasing power development is also clearly worse than women's.
The economy of young adults in Finland has lagged behind, while older age groups have seen stronger income growth. The Confederation of Finnish Civil Servants (STTK) is warning in particular about young men, whose wages have fallen. STTK's purchasing power survey follows the development of real incomes in Finland since 1966 and compares different age groups. The differences reflect both wage developments and employment, while a rising retirement…
The income of people under 35 is still 10–15 percent lower than in 2008. The income of young men has developed particularly poorly, according to the STTK review.
The purchasing power of younger age groups has developed less than in older age groups, and for example, the real income of 25–34-year-olds is almost at the same level as 15 years ago. This is clear from the purchasing power review of the Finnish Confederation of Employees' Associations STTK.
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