Millennial men earn £12,500 less than predecessors

Millennial men can expect to earn £12,500 less by the time they are 30 than previous generations, according to a study published by the think-tank Resolution Foundation.

Executive director Torsten Bell said men born between 1981 and 2000, who had "the misfortune to come of age during the financial crisis", will be "the first to earn less than their predecessors".

A rise in automation and the decline in manufacturing jobs has meant young men are "now more likely to be working in basic service jobs, or part-time, with lower wages", says the BBC.

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"The proportion of low-paid work done by young men increased by 45 per cent between 1993 and 2015-16," says The Guardian.

The number of young men in retail jobs has risen from 85,000 to 165,000, while the number working in bars and restaurants has gone up from 45,000 to 130,000.

"Women are still significantly more likely to work in retail than men, but the number of young women employed in the sector has fallen since the early 1990s," the paper adds.

In fact, report author Daniel Tomlinson said that "as public policy has supported female employment, with better maternity and childcare policies, and cultural norms have shifted, more women are finding work that pays a good wage".

The net result of all of this is that the gender pay gap has shrunk - but Generation Y is still worse off overall and improved equality is essentially "for the wrong reasons", says the BBC.

However, said Bell, "if the past year has taught us anything, it is that we need to look beyond the headlines of rising employment to recognise the challenges posed to groups of workers that are left behind".