According to the study, by the age of 30 men have earned on average £12,500 less than those born between 1966 and 1980, due to changing working conditions.
Over the past few years, men’s job roles have changed. The number of men in manufacturing jobs has fallen and more women have taken on roles which were traditionally held by men.
The Resolution Foundation is a think tank which focuses upon issues affecting those on low and middle incomes. It says that the stunted pay progress is also down to the increase in part-time working, with more men now working reduced working hours than ever before.
Quoted in The Guardian, Torsten Bell, the director of 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.
The fact that young women have bucked this trend by moving overwhelmingly into higher-skilled roles is welcome, and suggests that the disruptive force of automation has met its match in the forward march of education and feminism.
But if the past year has taught us anything, it is that we need to look beyond the headlines of rising employment to recognise the challenges posed to groups of workers that are left behind. Policymakers need to recognise the frustration that can follow from finding that Britain does not have the opportunities you had hoped, or indeed seen previous generations enjoy.”