Millennials and Generation Z, the most populous generations, face significant economic challenges compared to previous cohorts. They are more educated but enter the workforce later and are burdened by high debt and job insecurity, exacerbated by the Great Recession and the COVID-19 pandemic. Wealth inequality is pronounced, with millennials and Gen Z having substantially lower net assets than earlier generations. They prioritize self-realization, social justice, and collaboration but experience increased anxiety due to global challenges like climate change and economic instability. Racial diversity within these generations also highlights economic disparities. Overall, low social mobility and economic stagnation hinder their ability to achieve traditional milestones like homeownership and starting families, leading to a generational divide and potential shifts in economic policy.
| name | description | change | 10-year | driving-force | relevancy |
|---|---|---|---|---|---|
| Rise of Educational Debt | Younger generations face increasing education costs, leading to higher debt loads. | Shift from affordable education to high student debt burden. | Higher education debt may lead to new financial systems and support mechanisms for young adults. | The rising cost of education and the need for advanced qualifications. | 4 |
| Shift in Identity Values | Younger generations prioritize self-realization and identity over traditional success metrics. | Move from conventional success to personal fulfillment and social responsibility. | Future society may focus more on individual identity and community engagement than traditional achievements. | Desire for authenticity and social justice among millennials and Gen Z. | 5 |
| Delayed Life Milestones | Millennials and Gen Z are postponing marriage, homebuying, and starting families. | Transition from early adulthood milestones to later life achievements. | Future generations may redefine adulthood and its associated milestones significantly. | Economic instability and changing social norms regarding adulthood. | 5 |
| Increased Racial and Economic Inequality | Younger generations experience heightened economic disparities, especially among ethnic minorities. | Shift from a predominantly white wealth accumulation to increased diversity and poverty. | Socioeconomic structures may change to address growing disparities and demands for equity. | Awareness of systemic inequalities and calls for social justice. | 5 |
| Global Connectivity and Digitalization | Generation Z has grown up with the Internet and is constantly connected. | Shift from a pre-digital world to a fully interconnected global society. | Society may evolve into a more digital-first economy prioritizing online engagement and connectivity. | The ubiquity of technology and the Internet in daily life. | 4 |
| Political Polarization Awareness | Younger generations are growing up amid increasing political divides and global crises. | Shift from stable political environments to one of heightened conflict and division. | Future governance might focus on bridging divides and addressing global challenges collaboratively. | Historical context of political tension and a desire for reform from youth perspectives. | 5 |
| Demand for Social Justice | Younger generations show a strong inclination towards social justice issues. | Shift from individualistic pursuits to collective societal improvements. | Future policies may increasingly prioritize equity and justice across demographics. | Heightened awareness of social issues and advocacy through digital platforms. | 5 |
| name | description | relevancy |
|---|---|---|
| Intergenerational Economic Inequality | Growing wealth and asset disparities between generations, leading to economic disadvantages for millennials and Generation Z. | 5 |
| Mental Health Crisis | Increased levels of anxiety and depression among younger generations due to economic uncertainties and global challenges. | 4 |
| Student Debt Burden | Rising education costs leading to significant student debt, impacting millennials and Gen Z’s financial stability. | 4 |
| Housing Affordability Crisis | Limited homeownership opportunities resulting in millennials being unable to acquire property or achieve financial independence. | 5 |
| Declining Social Mobility | Reduced opportunities for upward mobility due to economic stagnation and inequality in education and wealth. | 5 |
| Ethnic and Racial Wealth Gap | Significant disparities in wealth accumulation among racial and ethnic groups within younger generations. | 5 |
| Uncertain Future Job Market | Precarious employment prospects exacerbated by economic downturns, affecting job security for younger cohorts. | 4 |
| Impact of Digitalization on Job Opportunities | Total digitalization may lead to job displacement and changes in labor market dynamics detrimental to younger workers. | 4 |
| Discontent with Political Institutions | Frustration towards existing political frameworks perceived as ineffective in addressing generational concerns, leading to potential social upheaval. | 4 |
| Climate Change Responsibility | Millennials and Gen Z inheriting the burden of climate change without sufficient resources or political will to address it. | 5 |
| name | description | relevancy |
|---|---|---|
| Delayed Life Milestones | Younger generations are reaching traditional adulthood markers like marriage and home ownership later due to economic pressures. | 5 |
| Pragmatic Activism | Young people are increasingly engaged in volunteerism and activism concerning global issues, reflecting their values of collaboration and equality. | 4 |
| Digital Natives | Generation Z, having grown up entirely in the digital age, exhibits a unique worldview shaped by technology and global connectivity. | 5 |
| Increased Anxiety and Awareness | Young generations are more aware of global challenges like climate change, leading to greater anxiety about their future. | 4 |
| Economic Discontent | A growing discontent with existing economic systems is prevalent among millennials and Gen Z, influencing their political and social views. | 5 |
| Racial and Economic Inequality Awareness | There is heightened awareness and concern about racial and economic disparities among young people, impacting their collective identity and activism. | 4 |
| Shift in Educational Financing | Younger generations increasingly bear the financial burden of education, fundamentally changing their economic landscape and future prospects. | 4 |
| Decline in Intergenerational Mobility | Younger cohorts face stagnating social mobility compared to their parents, exacerbating feelings of inequality and injustice. | 5 |
| name | description | relevancy |
|---|---|---|
| Artificial Intelligence | The development and implementation of advanced AI technologies with ethical considerations in decision-making processes. | 5 |
| Genetic Engineering | Manipulation of genetic material in organisms to address health, agricultural, and environmental challenges. | 5 |
| Digitalization | The integration of digital technologies into everyday life, transforming how individuals interact and access services. | 4 |
| name | description | relevancy |
|---|---|---|
| Intergenerational Economic Inequality | The persistent economic disparity between millennials, zoomers, and previous generations, exacerbated by economic crises and stagnant income growth. | 5 |
| Mental Health Crisis | Increased anxiety and depression among younger generations, highlighting the need for mental health resources and support systems. | 4 |
| Shift in Values and Identity | Younger generations prioritize self-realization, collaboration, and social justice, indicating potential shifts in societal norms and expectations. | 4 |
| Employment and Job Market Disruption | The impact of economic downturns and the pandemic on employment prospects for millennials and zoomers, leading to prolonged career uncertainties. | 5 |
| Racial and Ethnic Wealth Disparities | Growing income and wealth gaps among different racial and ethnic groups within younger generations, which could intensify social tensions. | 4 |
| Educational Debt and Access | Rising education costs coupled with stagnant wages leading to increased student debt, affecting financial stability for young adults. | 5 |
| Political Discontent and Activism | Discontent with current political systems among younger generations may lead to increased activism and calls for systemic change. | 4 |
| Delayed Life Milestones | Societal shifts resulting in delayed marriage, homeownership, and family creation among younger generations due to economic pressures. | 5 |
| Global Climate Challenges | Growing awareness and concern regarding climate change and its impact on future generations, shaping political and economic agendas. | 4 |
| Technological Impact on Society | A generation raised in a digital world faces unique challenges and ethical dilemmas regarding technology and its implications for society. | 4 |