A new NBER Working Paper, Countries For Old Men: An Analysis Of The Age Pay Gap by Nicola Bianchi and Matteo Paradisi, reveals, reveals that the pay gap between older and younger workers has been widening for decades across high-income countries, with wages of older workers growing much faster than those of their younger counterparts. The paper uses administrative and survey data to investigate this growing wage disparity.
I do wonder if Gen Y/Z end up being the new boomers at some point, however. Conversations about Gen X were mostly relegated to the back burner since boomers had control for so long, esp. given their outsized numbers and most everyone wanted to sell stuff to them. To a great extent, that’s still true on the selling aspect.
However, Gen X has not been centered, and will not be the most centered generation, I suspect it will be Gen Y first, then Z…it’s just a numbers game. All that inherited wealth is going somewhere, it’s not going into thin air.
It’s going to healthcare. Boomers will spend a fortune to stay alive for another year at 87