The generation enjoying the best early career pay in decades

New research by the Resolution Foundation indicates that Generation Z, born from the late 1990s onwards, is experiencing a "mini rebound" in early career pay.

This marks a better start for Gen Z compared to millennials, who were the first generation not to enjoy higher disposable incomes than their predecessors, partly due to the 2008 financial crisis.

The study found that real weekly pay at age 24 for those born in the late 1990s was 12 per cent higher than for cohorts born in the late 1980s.

Specifically, people born in the early 2000s are earning more at age 24 than any age cohort going back to those born in the 1950s.

Despite this positive trend, a senior economist from the Resolution Foundation warned that this pay rebound for Gen Z is already under threat from rising prices and weaker economic growth.