Bernard Salt, Partner in Charge, Demographics, KPMG shares his views on Generation X.
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I feel sorry for Generation X, these are the people aged 35 through to 50 and they are right slap bang in the middle of the toughest part of life, in many respects, peak career, peak kids, peak mortgage. This is a very tough time in life and Generation X is sailing through these years at the moment without any recognition, at all, typically it’s all about the Baby Boomers, now well over 50, or it’s about Baby Boomer kids, under the age of 35, in fact. Generation X has suffered in silence, Baby Boomers got fee free tertiary education between 1972 and 1987, Xs went into university late 1980s, in came HECS. Then, of course, Xs went into the workforce in the early 1990s and unemployment peaked at 12%. Then they went into the workforce, working to Baby Boomer management, just after the year 2000, into the workforce came young Generation Y, and Baby Boomer management focus went straight to the Ys. Are we paying you enough, Generation Y? Is anyone being mean to you, Generation Y? Can I get you a pillow, Generation Y?
Bugger Generation Y, you didn’t do that for me when I started in the workforce. The good news for X is that you’ve now got your hands on the top job and now you can reap your revenge on Generation Y. I suppose my overall observation is that Generation X, the silent generation, the generation that are the doers, the taxpayers, the workers, the consumers that silently go about their work. Perhaps we should all just take a moment to reflect on the great contribution that Generation X make to society. I know that myself, as a Baby Boomer, rely upon it, because I need Xs to keep paying their taxes, so that we can live in retirement, in the manner to which we’ve become accustomed. Thank you, Generation X.
Source: KPMG Australia NewsRoom