Economic Stereotypes In The 1960s-1980's
Clausen, a 38 year old drama teacher who wonders whether her kids will enjoy life the way she had growing up in Vancouver.
With the two red-hot housing markets in Toronto and Vancouver, this shows how today’s young population has it harder than the older generations.
Generation X (1960s-1980s) is the real loser when it comes to average salary, the average hourly pay was $24, adjusted for inflation. The average hourly pay in 2016 was $27.70, according to Statistics Canada.
Between 1981 and 2017 the average wages especially for young men dropped and climbed back up. Image 1.
There are several factors that help explain the drop. The first one is the recession of the early 1980s, which hit young people the hardest, as economic downturns usually do. The …show more content…
Canadians in their late 20s and early 30s today enjoy slightly higher wages than their peers did in 1980s.
More people are going and spending time at school paying higher fees. In 1976, just over 10 percent of Canada’s prime-aged workers had a university degree, according to Statistics Canada. In 2014, that was just short of 30 per cent.
Even though with the higher education young workers fail to earn higher wages like they had they had expected. Most people work in jobs that doesn’t even require the degree they have.
Millennials and the current generation are facing higher housing and education prices than ever. The average tuition now is almost double than it was in 1993 - 1994.
Housing is the thing that affects most of millennials today. Prices have gone up much more dramatically. Image 2.
Boomers didn't have the perfect timing entering the housing market but things eventually worked out as the homeownership rate among Canadians aged 65+ was 74.6% in 2016. Image 3.
The typical senior is nearly nine times richer than the typical millennial, a wealth gap between similar age groups that has more than doubled since
With the two red-hot housing markets in Toronto and Vancouver, this shows how today’s young population has it harder than the older generations.
Generation X (1960s-1980s) is the real loser when it comes to average salary, the average hourly pay was $24, adjusted for inflation. The average hourly pay in 2016 was $27.70, according to Statistics Canada.
Between 1981 and 2017 the average wages especially for young men dropped and climbed back up. Image 1.
There are several factors that help explain the drop. The first one is the recession of the early 1980s, which hit young people the hardest, as economic downturns usually do. The …show more content…
Canadians in their late 20s and early 30s today enjoy slightly higher wages than their peers did in 1980s.
More people are going and spending time at school paying higher fees. In 1976, just over 10 percent of Canada’s prime-aged workers had a university degree, according to Statistics Canada. In 2014, that was just short of 30 per cent.
Even though with the higher education young workers fail to earn higher wages like they had they had expected. Most people work in jobs that doesn’t even require the degree they have.
Millennials and the current generation are facing higher housing and education prices than ever. The average tuition now is almost double than it was in 1993 - 1994.
Housing is the thing that affects most of millennials today. Prices have gone up much more dramatically. Image 2.
Boomers didn't have the perfect timing entering the housing market but things eventually worked out as the homeownership rate among Canadians aged 65+ was 74.6% in 2016. Image 3.
The typical senior is nearly nine times richer than the typical millennial, a wealth gap between similar age groups that has more than doubled since