Millennials most insecure about their jobs, finds survey
Provident recently conducted a nationwide survey to 2000 UK respondents revealing how generations attitudes have changed in regards to working life.
With regards to jobs and education, the research revealed that one in four think the older generation had more secure jobs. Millennials are the highest age group to pay for education and are also the most insecure about their jobs; 34% of them tend to think their job is for life compared to 71% of over 55s. For 45-54 year olds, 52% think their job is for life.
In general life, a quarter of Millennials believe life was easier 20 years ago. 60% of millennials are jealous towards the older generation when it comes to finances and personal circumstances (e.g. house prices back in their day, pensions and cost of living) and over 60% of Millennials think older generations had more disposable income. The Millennials are the generation spending the most on healthcare: £79.97 per year (compared to £31.49 30 years ago).
When it comes to savings, 83% of Millennials think that older generations had more secure pensions. When millennials were asked about how much money they contribute to their savings or pension, the average amount was 10% of their wage go to savings, which is the lowest amount from all the age groups. Most of the disposable income spent by the older generations went to family whereas now, Millennials spend it on food. 37% of Millennials do not contribute to a pension. 80% of 55+ have got life savings/pensions – they managed to save on average £22,313 by the time they were 55.
With regards to holidays, 35-44 year olds are the luckiest when it comes to holidays, taking an average of 1.9 breaks a year. 57% of 18-34 year olds in the 50s-60s used to only holiday in the UK. Millennials were the lowest age group for holidaying in the UK and again the highest for holidaying outside of Europe.
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