When I read that a new study had found that “millions of young people in Britain are being hit by serious financial and work problems and pessimism about the future, with young women being worst affected”, my immediate response was: “Tell me something I don’t know.” As a freelancer, my financial situation is highly precarious. I live permanently in the overdraft I’ve not been able to pay off since my student days and unpaid invoices frequently leave me desperately scrabbling for cash. The way the media industry is going, it seems likely that things will only get worse.

In Tory Britain, young people are having their future stolen | Owen Jones Read more

The research found that almost half of young people expect to put off having children because of financial pressures, something I definitely identify with. I’m fed up with reading nagging articles about the risks of delaying pregnancy that fail to acknowledge structural factors shaping women’s options. At the age of 26 I’ve begun to think about starting a family. Though I don’t want kids quite yet, in an ideal world I’d hope to be ready within the next five or so years. Unfortunately, it’s hard to know how realistic that is. I manage to scrape together just enough to meet my own living costs – something that’s made significantly trickier by extortionate London housing costs. Being freelance also means I have no entitlement to maternity or sick pay. If I’m not working, I’m not earning.

The worst thing is that my situation is still comparatively privileged. Though it’s a challenge sometimes, at least I’m managing to make rent. Low pay and a lack of job opportunities have forced many young people to move back in with their parents, making them feel as though they’re in a state of suspended adulthood. My income streams might be unreliable, but the hourly rate I earn for writing is higher than for many other jobs. For lots of people my age, things are significantly bleaker. Income insecurity isn’t only a problem for the self-employed; zero-hours contracts are increasingly the norm in many industries. Almost a third of young people report that they’ve been offered work on a zero-hours basis. Roughly the same number say they don’t get the hours they need to cover their living costs. Even more shockingly, 22% say they’ve been paid less than the legal minimum wage. Young parents are particularly struggling – one in 12 parents aged between 18 and 30 say they have to use a food bank to survive.

Is it any wonder that these sorts of pressures are having a significant psychological effect? More than half of 18- to 30-year-olds say they’re worried about the future, 47% report that they lack self-confidence, and 42% that they feel worn down. There’s also a noticeable gender gap: 39% of young women say it’s a struggle to make their money last until the end of the month, compared with 27% of young men. So it’s not surprising that women are more likely to feel the psychological impact.

Yes, zero hours work can be banned: New Zealand has just done it | Aditya Chakrabortty Read more

Part of the problem is that women are more likely to be single parents. Changes to the benefit system made by the Conservative government have made it even harder to bring up children alone. There’s also an issue of income disparity. Though the overall gender pay gap is actually reversed for people in their 20s, with women earning slightly more than men, this effect doesn’t hold across the class spectrum. Traditionally female-dominated roles such as childcare and beauty therapy are lower paid, on average, than disproportionately male fields such as plumbing and construction.

It’s frustrating to see older commentators go on about the alleged entitlement of feckless “millennials” when the reality for many is poverty, desperation and crushing despair. My generation is at the sharp end of economic processes with calamitous effects for ordinary working people. We’ve been hit hardest by the erosion of employment rights. As people at the start of our careers, we’re most vulnerable to the impact of automation. In the midst of a housing crisis, we’re the ones least likely to own property, which leaves us vulnerable to the whims of private landlords. The fact that only about half of us are worried about our future prospects is a testament to the optimism of the human spirit.

We’re teetering on the brink of a full-blown crisis and urgently need solutions. Instead, our government seems to be going out of its way to make life even harder for young people. Plans to cut housing benefit for 18- to 21-year-olds are particularly cruel and, as the Economist notes, won’t even save much money. The Young Women’s Trust, which carried about the research, has called for the “national living wage” to be extended to under-25s, which seems only fair given that rent, bills and food don’t actually cost less just because you happen to be younger. The organisation also suggests that a minister for young people could be appointed to tackle the problems head on.

Britain’s young and poor are being hit yet again – this time on apprenticeships | David Lammy Read more

Ultimately, though, alleviating poverty and financial insecurity requires political will. Though young people have been disproportionately affected by recent changes, the dynamic of exploitation is nothing new. The trade union movement fought hard for employment rights that are being undermined by workforce casualisation. Unemployment and disability benefits exist as a safety net that any of us could find ourselves unexpectedly reliant on – save a privileged few with enough money in the bank that they never need worry. Though we might not realise it, welfare cuts harm us all.

Young people aren’t struggling as a result of unstoppable, all-powerful economic forces. It’s true that new challenges have emerged, but ultimately our government is allowing this to happen. Wealth continues to grow more concentrated as wages stagnate and work becomes increasingly insecure. It’s no coincidence that many Conservative party donors are wealthy business owners with an interest in keeping labour cheap and flexible. We need to recognise the situation for what it really is, and become a cogent political force capable of advocating for our own interests. Pensioners are comparatively better catered for because politicians know they’re significantly more likely to vote and their support is necessary to win elections.

As difficult as it seems, it’s essential that our generation does not succumb to hopelessness. We need to stand up and fight to avoid being left behind.