Avocado toast aplenty for Norwegian millennials
While the millennial generation looks set to become the first to end up poorer than their parents across the western world, Norway looks set to buck the trend — enjoying a 13% rise in disposable household income compared to Norway’s Generation X. BBC Capital looks at why.
The Resolution Foundation’s report on generational income concludes that rising inequality has been a core factor in driving down disposable incomes for millennials in other strong economies such as the US, UK and Germany. In these countries, where there are wider wage bands, young people bear the brunt of a lack of pay growth and job mobility.
By contrast, Bjørnland argues that an egalitarian approach — distributing wealth between generations — has contributed to strong life satisfaction and a lack of social unrest in Norway.
