July 13, 2024 | 5:17

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'Generation Z' is ahead of 'Millennials' and already lives better than them at the same age

Bilbao youth

Maria Jose Gonzalez

June 1, 2024 | 12:25 pm

Spain has gone from the generation of the two crises to that of the employment 'boom'. Unemployment drops, salaries rise and public competitions return

The comparison of the average annual net salary by generations and age groups shows a significant change in the Spanish labor panorama. 'Generation Z', made up of those born between 1998 and 2002, has managed to surpass 'Millennials' in terms of average annual salary, something that stands out especially in the age group of 20 to 24 years.

Analysis of salary data by generations

In the age group of 20 to 24 years, young people from 'Generation Z' already earn more than 'Millennials' at the same age. This generation has seen an increase in wages thanks to the recovery of the labor market and the decrease in unemployment.

Salary trends in other age groups

For the 25-29 age group, 'Generation Z' also shows a positive trend compared to previous generations. The data reveals that average annual salaries are increasing, reflecting a general improvement in working conditions.

In the 30-34 age group, 'Middle Generation X' and 'Late Generation

Factors that influence salary improvement

Unemployment Reduction

Reducing unemployment has been a key factor in increasing wages. With more people employed, the demand for workers has increased, which in turn has led to an increase in salaries offered by companies to attract and retain talent.

Revaluation of public oppositions

The return of public examinations has also contributed to the salary improvement. Opportunities in the public sector, with its stable conditions and competitive salaries, have attracted many young people seeking job security and good income.

Conclusions and future prospects

'Generation Z' is experiencing a more favorable employment situation than 'Millennials' at the same age. Rising wages and declining unemployment are indicative of a recovering economy and expanding labor market.

Improvements in the employment landscape not only benefit 'Generation Z', but also set a positive trend for future generations. If these trends continue, we could see a sustained strengthening of the economy and greater stability for young workers in Spain.

The challenge now is to maintain this momentum and ensure that labor and economic policies continue to support wage growth and reduced unemployment, thereby creating a prosperous environment for all.

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