Table of Contents:
The current economic environment for young Italians
The labor market in Italy presents itself as a difficult terrain for young people, characterized by precarious contracts and salaries that fail to guarantee a decent standard of living. This scenario makes it complicated not only to deal with daily expenses, but also to save and plan for a secure financial future. Millennials and Generation Z are having to deal with an increase in living costs that have a heavy impact on their savings opportunities
.
The main barriers to savings
According to a survey conducted by Gimme5, 50.8% of young Italians indicate rising prices as the main obstacle to saving. Other significant factors include unforeseen financial emergencies (34.1%) and the lack of financial resources (31.4%). In addition, the lack of control over expenses and impulse purchases contribute to an already critical situation. Although 79% of the interviewees consider savings to be fundamental, only 54% are able to set aside money regularly, highlighting a worrying gap
between intentions and reality.
Youth unemployment and job insecurity
Italy is in third place in Europe in terms of youth unemployment, exceeding 18%, a figure well above the European average. The precarious nature of contracts is a phenomenon that affects young people in particular: in 2023, 33.4% of workers between 15 and 34 years old are employed on fixed-term contracts. This situation not only limits job opportunities, but also negatively affects savings capacity, creating a vicious cycle that is difficult to break
.
Wages and purchasing power
Wages in Italy are lower than the European average, with a gross per capita income of about 33,000 euros per year, compared to 40,000 euros in other European countries. In the last ten years, Italy has recorded a decrease of 4.5% in the average annual wage, while Europe has seen an increase. Added to this is the effect of inflation, which has eroded the purchasing power of young Italians by 6.4% since 2021, making savings even more difficult
.
Conclusions and future prospects
The current economic framework for young Italians is worrying and requires urgent intervention on the part of the institutions. It is essential to create policies that promote stable employment and adequate salaries, to guarantee a better future for the new generations. Only in this way will it be possible to reverse the trend and allow young people to build a solid and secure financial future
.
