Apart from starring in festive beer advertisements on the beaches of Ibiza, young people are also characterized by being the age group whose economic conditions, compared to the rest of their contemporaries, have deteriorated the most. They continue to be amply prepared, to the point that those with higher education quadruple in number than in 1980, but something is missing in their economic record and also in their capacity for political influence, due to their waning demographic weight. Their salaries are 35% below the average and their incomes progress more slowly than in previous generations.

This is the scene drawn by the study prepared by the BBVA Foundation and the Valencian Institute for Economic Research (Ivie) on the situation of young people between 16 and 29 years old. He concludes that training continues to be a key tool. It is the great social elevator, both up and down, and according to the authors of the research, public education is in a position to alleviate the difficulties.

The salary of those under 29 years of age is 35% lower than the average for the entire population and does not reach the same level as the rest until the age of 34, the study highlights. Those born in 1955 achieved it seven years earlier, at 27. Furthermore, it shows that 53.2% of those born after 1994 have difficulties making ends meet, 5.4 percentage points above the population average .

This particular map of the deterioration of the economic conditions of youth is completed with some more percentage. Its unemployment rate is 22.4%, compared to 12.9% for the general population, while its level of temporary employment, at 45.5%, more than doubles that of society as a whole. More than half live in addition to renting.

Added to this photograph is the loss of demographic weight of this age group, which is also transferred to politics. They are 14.8% of the population, nine percentage points less than in 1995, and that “reduces their influence on public policies, leaving their problems relegated compared to those of other larger groups,” say the BBVA Foundation and the Ivie. .

Aside from the general economic constraints, the study emphasizes the power of education as a great social elevator. “The level of education is the main predictor of income and taking advantage of educational opportunities is very important. Even those who have more favorable environmental conditions are not guaranteed anything if they do not complete their higher education,” says the director of the report, Francisco Pérez.

Back to the percentages, training seems to be the formula to prosper: 59.2% of young people from low social backgrounds who manage to complete higher education end up obtaining a high income, while 65% of those who only have compulsory training receives low income.

On the contrary, it also seems that a favorable origin is not a sufficient condition for achieving high income in the future. 71% of those who have this origin and higher education have a high income, but among those who only have compulsory training the rate drops to 21%.

However, the percentage of young people from humble origins who are able to complete their studies is much lower than those who have a more favorable environment. “As the important improvements have not reached all youth equally, this social elevator has its limits,” the study warns. “The consequence is that social origin continues to condition educational results.”

Pérez considers that “the educational system has not prioritized compensation for the shortcomings of disadvantaged students in the allocation of its resources.” As a result, socioeconomic factors of origin and family background remain the most relevant determinants of educational failure or success.

In his opinion, it would be more productive to reinforce students with problems in class than to generically reduce the ratio of students per classroom. He is also in favor of enhancing the role of vocational counselors because in the most disadvantaged environments the references regarding the future of work are different.

The report estimates that in Spain there are almost a million NEETs who neither study nor work. They are 14% of young people, a percentage lower than the 18.6% reached in 2020. The growth of this group, he assures, usually coincides with major crises, such as the Great Recession and the pandemic.

Housing is also an important factor in the living conditions of young people. More than half live on rent despite the fact that the monthly payment tends to be higher than the mortgage. The problem is access to financing. For this reason, the report calls for public housing policies for young people.