German labor market analyst forecast
“Young generation will always be rich”
The world has rarely faced greater challenges than it does today. Many boys fear the future. Unnecessary, says labor market analyst Enzo Weber. The younger generation will be richer all the time.
First the corona, then the war in Ukraine and inflation and soon an energy crisis. The world is in a lot of turmoil right now. So it is not surprising that many young people are pessimistic about their future.
According to German labor market analyst Enzo Weber (42), they have no reason to do so. He predicts a golden future for them. “The younger generation will be richer than ever,” he says.Spiegel». Where does Weber derive this belief? Ultimately, prosperity comes from technological progress and greater productivity. “And we will achieve this through digitization and ecological transformation”.
The elderly also struggled to cope
However, Weber says the road to get there won’t be a happy one. Because there are still some challenges waiting for the younger generation. “Without Corona, without the war, everything would have been better, no question. Yes, there are also difficulties such as population shrinkage, which will bring us problems in the pension system.
However, it should also be considered that the parents of the boys also had to deal with important tasks such as oil price shocks or 9/11 at the time. However, this has not slowed down the rise in living standards – quite the contrary.
Losses due to inflation are then compensated
One of the biggest problems plaguing many young people today is inflation. “Young people are among the low-income earners most affected by inflation,” says Weber. Yet a young person is no more vulnerable than an old person: “because they still have opportunities”.
Weber says that even if the tide is low in the wallet right now, it will be compensated for in the long run by starting work. This is particularly difficult, for example, for a long-term unemployed single parent with two children or a pensioner living on the poverty line.
More jobs through digitization
The situation is different if inflation turns into recession. Weber compares it to the Corona pandemic: at that time there were fewer layoffs in the recession than in previous crises, but companies hired fewer people. And therein lies the problem. If there is no volatility, it is very difficult for entrepreneurs to get a foothold in the job market.
But according to Weber, that is still in the future. He believes that digitization in particular will greatly contribute to the prosperity of future generations. “It will create a lot of good jobs.” (chit)
“Wannabe pop culture fanatic. Zombie advocate. Entrepreneur. Internet evangelist. Alcohol fanatic. Typical travel buff.”