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“Millennial” men fall behind on pay

9th Feb 17 9:31 am

What’s changed?

A new study has found a generation of “millennial” men are falling behind when it comes to pay, many are taking lower paid jobs traditionally done by women.

By the time these men are 30, anyone born between 1981 and 2000 will have earned £12,500 less than those born between 1966 and 1980, this is according to the Resolution Foundation.

The think-tank also stated that this was the first generation to earn less than their predecessors.

In contrast to this millennial woman had seen neither a progress or decline in pay, this narrowed the gender pay gap but only because men were doing worse.

Over the last two decades’ researchers said there had been a fall in traditional mid-skilled occupations for both sexes.

There are now 40 per cent fewer men employed in manufacturing, as well as this 66 per cent fewer women are in secretarial roles.

The number of young men working within retail has nearly doubled from 85,000 to 165,000.

The number of men aged between 22 and 35 working in bars and restaurants trebled from 45,000 to 130,000 since 1993.

Torsten Bell, Executive Director at the Resolution Foundation, said: “The long-held belief that each generation should do better than the last is under threat.”

“Millennials today are the first to earn less than their predecessors.”

“While that in part reflects their misfortune to come of age in the midst of a huge financial crisis, there are wider economic forces that have seen young men in particular slide back.”

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