The Intelligence from The Economist The Intelligence: The kids are alright, turns out
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May 2, 2024 
Callum Williams, a Senior economics writer at The Economist, and Shashank Joshi, a nuclear weapons expert, dive into intriguing discussions on Generation Z's surprising financial advantages. They bust myths about this generation being worse off, highlighting their significant wage growth and increased employment options. On the geopolitical front, Joshi analyzes India's advancements in missile technology, particularly its MIRV capabilities, and what this means for regional dynamics and the global arms race, especially amidst rising tensions with China.
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Gen Z's Financial Status
- Gen Z is the richest generation in history, benefiting from low youth unemployment and high wage growth.
- This financial stability is reshaping their relationship with work, giving them more choices and bargaining power.
Gen Z Income
- The average income for a 25-year-old in the US is around $40,000, significantly higher than previous generations at the same age.
- This income gap closure is observed across the rich world, though data may vary in detail.
Gen Z and Housing/Education Costs
- Despite high housing and education costs, Gen Z's homeownership rates and spending on these areas are comparable to or better than previous generations.
- This is attributed to their higher earnings, enabling them to manage these expenses relatively well.