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<ul class="summary-list"><li><keyword id="20138372" type="General" weightage="100" keywordseo="Lithuania" source="keywords">Lithuania</keyword> ranks as the <keyword id="23243125" type="General" weightage="20" keywordseo="happiest-place" source="keywords">happiest place</keyword> for those under 30, but it also has very high suicide rates.</li><li>On the surface, it seems like a paradox. But a closer look reveals a stark generational divide.</li></ul>Domantas Katelė, an official in Lithuania's Ministry of Social Security and Labour, is widely known as his country's <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-sick-leave-pto-mental-health-work-from-home-2024-8">"Gen Z"</a> minister. Rings adorn Katelė's tattooed fingers, which he uses to proudly point to his "Politicians make me sick" door sign. At 25, he's the country's youngest-ever deputy minister (he still wears braces), and rarely lets visitors leave his office without taking a selfie. Katelė's portfolio includes <keyword id="20654323" type="General" weightage="20" keywordseo="youth-affairs" source="keywords">youth affairs</keyword>. "It's a golden age for the youth of Lithuania," he told Business Insider during a visit to Vilnius in August. <a target="_blank" class="" href="https://www.businessinsider.com/why-lithuania-happiest-country-young-people-from-local-2024-6">The World Happiness Report</a> backs up his claim, ranking <a target="_blank" class="" href="https://www.businessinsider.com/why-lithuania-world-happiest-country-for-gen-z-millennials-education-2024-6">Lithuania as the happiest place in the world for those under 30</a> earlier this year. But it would be inaccurate to paint <a target="_blank" class="" href="https://www.businessinsider.com/brazil-lithuania-move-career-safety-progression-make-friends-2024-1">Lithuania</a> as some sort of dreamland, Katelė adds. After all, it's also Europe's <keyword id="23243126" type="General" weightage="20" keywordseo="suicide-capital" source="keywords">suicide capital</keyword>. <h2>A paradox?</h2>Though the suicide rates have declined since its independence from the Soviet Union in the 1990s, Lithuania still often leads the European Union in this grim statistic. Between 2019 and 2021, Lithuania had the highest rate of death by intentional self-harm in the 27-country bloc, and, according to the <a target="_blank" href="https://www.oecd.org/en/data/indicators/suicide-rates.html">OECD's most recent data</a>, it had the second-highest suicide rate globally. It seems paradoxical: How can <a target="_blank" class="" href="https://www.businessinsider.com/vilnius-lithuania-happiest-gen-z-cheap-safe-fun-tech-hub-2024-9">a country be great for young people</a> while also being Europe's suicide capital? Katelė lists some of the reasons Lithuania is ranked so highly for young people — some of the<a target="_blank" href="https://ec.europa.eu/eurostat/cache/digpub/housing/bloc-2b.html"> most affordable housing</a> in Europe, free education for many Lithuanians, and a growing economy providing ample job opportunities. Walking the streets of Vilnius in the summer, you'll find stylish young people wherever you look — sipping Aperol Spritzes at Old Town bars, lounging by the river in the artsy Užupis district, or skateboarding at the Baltasis Tiltas Skate Park. <div type="image" title="Užupis waterway" height="4284" width="5712" msid="113488780" hostid="261"></div>Although the city is steeped in history — some very dark and recent — it feels modern and vibrant. But when you talk to <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-men-women-leisure-spending-habits-differ-report-shows-2024-9">Gen Zers</a> in Lithuania about its preeminence, the reaction is often the same: disbelief. A few said it made them laugh. "I was very surprised, and my friends who are living in Vilnius were also surprised," said Adriana Doroškevičiūtė, 23, sipping on an iced coffee at a café in the capital. "I thought we were depressed," she added. "When we receive the opposite of that, you think, what is happening?" Richard Bogu, 23, was also shocked. It's not that he thinks Lithuania is a bad place for <a target="_blank" class="" href="https://www.businessinsider.com/young-people-are-developing-money-dysmorphia-2024-7">young people</a>; just that, like others, he has come to associate the country with bleakness. "We are known for being very sad people," he said, adding: "But, slowly, we're going toward being a small, happy nation." <div type="image" title="Richard Bogu sits down at a coffee table" height="4284" width="5712" msid="113488790" hostid="261"></div>Bogu said he feels optimistic about the future, especially for people his age — the tech industry, in which he works, is booming, <a target="_blank" href="https://www.lrt.lt/en/news-in-english/19/2210828/average-wage-in-lithuania-up-12-sodra">salaries are rising</a>, and jobs are ample. "This country gave me opportunities," he said. A key benefit is that most Lithuanians can enter the workforce unburdened by <a target="_blank" class="" href="https://www.businessinsider.com/regret-paying-off-student-debt-instead-earning-passive-income-2024-7">student debt</a>, as university education is free for many. Wages are rising rapidly, and the expanding startup sector is <a target="_blank" href="https://unicorns.lt/en/news/lithuanian-startups-are-looking-hundreds-employees-not-just-it-specialists?ref=philomaths.tech">eager to hire</a> young talent. <h2>No country for old men</h2>But while things may be looking up for the younger generation, older Lithuanians don't seem to share the same optimism. According to <a target="_blank" href="https://ec.europa.eu/eurostat/databrowser/view/ilc_pw01__custom_12656014/default/table?lang=en">Eurostat's 2023 overall life satisfaction survey of those aged 65 years or over,</a> older Lithuanians are nowhere near as happy as the country's youth. This generational divide bears out in the <keyword id="21021432" type="General" weightage="20" keywordseo="World-Happiness-Report" source="keywords" meta.keywordsubtype="org" meta.entityname="World Happiness Report" meta.hostid="261" meta.entityid="World Happiness Report">World Happiness Report</keyword>. While Lithuania ranked first for those under 30, it was 19th across all age groups, dragged down by its 44th-place ranking for those over 60. "If you don't have children or grandchildren to care for you, you're basically done," Bogu said. <a target="_blank" class="" href="https://www.businessinsider.com/retirees-moving-social-security-cheaper-living-healthcare-canada-japan-mexico-2024-9#:~:text=Retirees%20are%20increasingly%20moving%20abroad,Canada%2C%20Mexico%2C%20and%20Japan.">Retirees</a> in Lithuania receive some of the <a target="_blank" href="https://www.etk.fi/en/work-and-pensions-abroad/international-comparisons/pensioners-income-level-internationally/average-pensions-in-europe/">lowest pensions</a> in Europe, and have <a target="_blank" href="https://ec.europa.eu/eurostat/databrowser/view/tespn060/default/table?lang=en&amp;category=t_ilc.t_ilc_ip.t_ilc_pn">among the lowest median relative income</a> of older people across the European Union. Data provided to BI by Lithuania's Ministry of Social Security and Labour shows that 62% of those who died by suicide in 2023 were over 50, with 8.7% under 30. It's a far starker divide than in countries like the US or UK, pointing to a chasm between the generations. <a target="_blank" href="mailto:grizas.antanas@gmail.com">Antanas Grižas</a>, a clinical psychologist specializing in suicide prevention in Lithuania, said the <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-kid-baby-boomer-parents-generational-differences-parenting-lessons-2024-4">generational divide</a> is deeply felt in the country, as well as elsewhere in the former Soviet Bloc. He told BI that economic factors, such as <a target="_blank" class="" href="https://www.businessinsider.com/boomer-retirement-savings-social-security-pension-budgeting-2024-7">low retirement incomes</a>, certainly impact mental health, but that the historical context is key, too. <div type="image" title="A Soviet-era building with a sign reading &quot;Vilnius&quot; is seen in Vilnius, Lithuania on 28 July, 2024." height="684" width="1024" msid="113488788" hostid="261"></div>"The changes after the fall of the Soviet Union were very fast and drastic," he says. Those who lived through this period faced a double trauma: enduring Soviet rule and navigating the chaotic transition to an independent capitalist nation. Plus, as Grižas points out, psychiatry was sometimes politicized under <a target="_blank" class="" href="https://www.businessinsider.com/vintage-photos-show-life-behind-the-iron-curtain">Soviet rule,</a> with dissidents being labeled as mentally ill, which has strengthened a generational <a target="_blank" class="" href="https://www.businessinsider.com/stephen-hays-mental-health-vc-what-if-ventures-addiction-2024-7">stigma over mental health.</a> "The <keyword id="19919711" type="General" weightage="20" keywordseo="Gen-Z" source="keywords">Gen Z</keyword>, haven't experienced that directly, " he noted. "So it makes total sense that they have different conditioning and a different mindset." Reports like the happiness rankings are also often based on self-assessments, and Grižas suggests that comparisons may play a key part in the variation between the generations. "The younger generation can easily compare and see the progress that we as a nation made," he said. <div type="image" title="Domantas Katelė in front of his office door" height="4284" width="5712" msid="113488778" hostid="261"></div>Katelė, the "Gen Z" minister, agrees that the positive self-assessments among the youth may have been influenced by their awareness of the hardships faced by their elders. While the previous generation was deprived of luxuries, he said Gen Z can relish the <a target="_blank" class="" href="https://www.businessinsider.com/why-gen-z-feels-good-about-money-inflation-jobs-2024-6">freedom to spend</a> the equivalent of $160 on dinner, to vacation abroad, and to participate in democracy. "If they take a look and think about that," he said, "it's just not possible to not be happy." Correction: September 19, 2024 — An earlier version of this story misstated Domantas Katelė’s job title. He is a deputy minister, not a minister.

Lithuania is the world's happiest place for under 30s, but it's also Europe's suicide capital

Union Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> in her Budget speech proposed creation of <keyword id="19898684" type="General" weightage="20" keywordseo="employment" source="keywords">employment</keyword> of about 4.1 crore <keyword id="19916812" type="General" weightage="20" keywordseo="youth" source="keywords">youth</keyword> over the next five years. Towards it, the finance minister has made an allocation of Rs 2 lakh crore. Similarly, for <keyword id="20374219" type="General" weightage="20" keywordseo="skilling" source="keywords">skilling</keyword> the citizens so as to generate job opportunities, she proposed Rs 1.48 crore. 20 lakh youth will be skilled over a five-year period. A total of 1,000 industrial training institutes will be upgraded, she announced. She proposed in her speech that a one-time wage would be provided to all first time employees in all sectors. The incentive for first-timers would be provided through Direct Benefit Transfer (DBT) The Finance Minister said that the government will launch internship opportunities in 500 companies to one crore youth in five years. Interns will get exposure to real-life environment and an allowance of Rs 5000 per month, she said. The companies will bear training and 10 per cent of training cost from CSR funds. Sitharaman said employment, skilling, MSME, and middle class are among key focus areas of this Budget. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" target="_blank">Union Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman to present her record seventh consecutive Budget today</a><a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank">Union Budget 2024-25: How will this budget impact you?</a><a href="https://www.businessinsider.in/budget/news/heres-a-quick-overview-of-pm-modi-3-0-governments-first-budget-to-be-presented-by-fm-nirmala-sitharaman-today/articleshow/111944393.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/heres-a-quick-overview-of-pm-modi-3-0-governments-first-budget-to-be-presented-by-fm-nirmala-sitharaman-today/articleshow/111944393.cms" target="_blank">Here's a quick overview of PM Modi 3.0 government's first budget, to be presented by FM Nirmala Sitharaman today</a>

Budget 2024: ₹2 lakh crore allocated to employ 4.1 crore youth over next 5 years

The government on Tuesday announced a new <keyword id="22514167" type="General" weightage="20" keywordseo="centrally-sponsored-scheme" source="keywords">centrally-sponsored scheme</keyword> for <keyword id="20374219" type="General" weightage="20" keywordseo="skilling" source="keywords">skilling</keyword> <keyword id="20305992" type="General" weightage="20" keywordseo="20-lakh" source="keywords">20 lakh</keyword> <keyword id="19916812" type="General" weightage="20" keywordseo="youth" source="keywords">youth</keyword> over the next five years. The announcement was made by Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> in the <keyword id="20387181" type="General" weightage="20" keywordseo="Union-Budget-2024-25" source="keywords">Union Budget 2024-25</keyword>. The minister said that model skilling loan scheme will be revised to facilitate loans up to Rs 7.5 lakh. As part of boosting skilling efforts, 1,000 ITIs will be upgraded on the hub-and-spoke model. Besides, the government will provide financial support for loans up to Rs 10 lakh for higher education in domestic institutions. Sitharaman said the new centrally-sponsored scheme for skilling in collaboration with states and industry will train 20 lakh youth over a period of five years. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" target="_blank">Union Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman to present her record seventh consecutive Budget today</a><a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank">Union Budget 2024-25: How will this budget impact you?</a><a href="https://www.businessinsider.in/budget/news/heres-a-quick-overview-of-pm-modi-3-0-governments-first-budget-to-be-presented-by-fm-nirmala-sitharaman-today/articleshow/111944393.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/heres-a-quick-overview-of-pm-modi-3-0-governments-first-budget-to-be-presented-by-fm-nirmala-sitharaman-today/articleshow/111944393.cms" target="_blank">Here's a quick overview of PM Modi 3.0 government's first budget, to be presented by FM Nirmala Sitharaman today</a>

New centrally-sponsored scheme to skill 20 lakh youth over 5 years

Terming the state budget as "revolutionary," Maharashtra Chief Minister Eknath <keyword id="20040955" type="General" weightage="20" keywordseo="shinde" source="keywords">Shinde</keyword> said that this budget in a true sense empowers women, youth, and farmers through various schemes worth Rs 1 lakh crore. He said that this budget is revolutionary and would make the future of weaker sections, farmers, and youth bright. Stating that the budget was a resolve to give a new direction to Maharashtra, <keyword id="20062947" type="General" weightage="20" keywordseo="CM-Shinde" source="keywords">CM Shinde</keyword> said that this budget has an "unending chant of the <keyword id="22227448" type="General" weightage="20" keywordseo="development-of-Maharashtra" source="keywords">development of Maharashtra</keyword>". Deputy Chief Minister and Finance Minister <keyword id="19941791" type="General" weightage="20" keywordseo="Ajit-Pawar" source="keywords">Ajit Pawar</keyword> on Saturday presented the additional budget for the year 2024-25 in the state assembly. The Finance Minister had presented the interim budget in February. Stating that the budget has important provisions to help women and unemployed youth to stand on their own feet, the Chief Minister said that "Chief Minister Majhi Laadki Baheen scheme, free vocational education to girl students, Chief Minister Annapoorna scheme which gives 3 cylinders per year to eligible families, project worth Rs 15 thousand crores for providing free electricity to farmers during day time, Chief Minister Baliraja electricity concession scheme which provides free power to farmers using agricultural pumps, training to 50 thousand youth every year to convey government schemes to masses and resolve to remove poverty of the weaker sections of the society have made this budget special." He said that provisions like free education to girl students for engineering, pharmacy, and medical education along with degree and diploma courses along with Rs. 1500 per month to every woman prove that the government has expressed its responsibility towards women of the state. Stating that the budget proves that it stands behind the farmers, Chief Minister Shinde said that the issue of food-grain storage would be resolved through schemes like Godown per village. He said that the lives of farmers would be transformed through various provisions in the budget which include financial assistance to cotton and soybean growers, special campaigns to complete irrigation projects, and solar pumps on demand. Pointing out that the decision to celebrate the coronation of <keyword id="19966480" type="General" weightage="20" keywordseo="Chhatrapati-Shivaji-Maharaj" source="keywords">Chhatrapati Shivaji Maharaj</keyword> through a ceremony every year at Fort Raigad is important, the Chief Minister said that other decisions include recommending the annual Pandharpur pilgrimage for the UNESCO World Heritage along with the rock sculptures in Konkan, Dahi Handi celebration are efforts towards the preservation of history and culture of the state. He said that the budget provides Rs 20,000 to every Dindi (the troops participating in the annual Pandharpur pilgrimage) and it has made the announcement of making arrangements for medical treatment of pilgrims through the Chief minister's medical relief cell and provision for Nirmal Waari show commitment towards the annual pilgrim and Warkari sect. He said that a separate Warkari Mahamandal or separate Corporation for the annual pilgrims would be set up. Stating that massive investment would be made in priority sectors and the <keyword id="21313056" type="General" weightage="20" keywordseo="green-hydrogen-sector" source="keywords">green hydrogen sector</keyword>, he said that it would generate employment in a big way. He said that the chief minister's youth training scheme would impart training to ten lakh youngsters every year and a centre of excellence would be established in ITI's which would benefit the youngsters. Stating that the Sanjay Gandhi Niradhar scheme and Shrawan Bal seva state pension scheme assistance would be raised are strong steps CM Shinde said that providing for housing of various sections of society, Anand Dighe housing scheme for differently abled amply proves that the state government is taking strong steps towards removing the poverty in the state. The chief minister said that Metro routes worth 449 Kms in Mumbai, Pune, and Nagpur along with 23 thousand kilometer road stretch works under Chief Minister Gram Sadak scheme, construction of buildings of village Panchayats under Balasaheb Thackeray memorial Matoshree Gram Panchayat scheme, PM e-bus scheme in municipal corporation areas and other infrastructure works would be undertaken in a big way which would result in speedy development of the state. The monsoon session of the Maharashtra Assembly began on Thursday (June 28) and will go on till July 12. This is the last legislative session before the state assembly polls, in the next four months.

Budget resolves to give new direction to Maharashtra: CM Shinde

<ul class="summary-list"><li>Dick's Sporting Goods has something unusual for a retailer: an app to manage <a target="_blank" href="https://www.businessinsider.com/loneliness-decline-in-kids-sports-new-model-cheaper-easier-2023-8">youth team sports</a>.</li><li>The service now boasts 5 million users who spend a half hour per day on the platform.</li></ul>Dick's Sporting Goods has long offered youth athletes and coaches a number of spiral-bound ways to organize teams and keep score.But in recent years, the company has been investing in something unusual for a retailer: an <a target="_blank" href="https://www.businessinsider.com/gamechanger-artificial-intelligence-platform-track-analyze-youth-sports-games-2024-5">AI-powered app to manage youth team sports</a>, with livestream video and auto-generated highlight reels from games.Now, the aptly named Game Changer platform is driving real revenue with some notable engagement, Dick's CEO Lauren Hobart told investors on the company's earnings call Wednesday.Hobart said last quarter saw 5 million users who spent a half hour per day on the platform, and Game Changer says it supports over a million teams and over 7 million games per year.Dick's CFO Navdeep Gupta said the business segment will bring in a highly profitable $100 million in revenue this year, but the real kicker for the company is <a target="_blank" href="https://www.businessinsider.com/retail-media-advertising-surges-challenging-google-traditional-channels-2023-9">the lift for retail sales</a> online and in-store, especially among loyalty program members."Athletes that are both GameChanger user and a Scorecard user have 2x the revenue profile for just a Scorecard user," the CFO said. "That indicates also that the level of engagement that we have with these multi-channel athletes is actually really, really exciting and interesting to us as we look to the long-term opportunity for this platform."Initially developed for so-called "diamond sports" like baseball and softball, Game Changer has been rolling out new AI-powered features to better support sports like basketball, soccer, volleyball, and more, bringing a kind of <a target="_blank" href="https://www.businessinsider.com/guides/tech/what-is-espn-plus">ESPN+ viewing experience</a> to far-flung family members and fans.

Dick's says its youth sports app will bring in $100 million this year

<ul class="summary-list"><li>China's young people are abandoning retirement savings, The New York Times reported.</li><li>The aging population and declining birthrate have intensified the pension crisis.</li></ul>China's pension system is facing a reckoning. A rapidly aging population, difficulties finding a job, and concerns about low pay are weighing on the minds of the country's young people. For some, that has led them to refuse to save for retirement entirely, according to an in-depth report in <a target="_blank" href="https://www.nytimes.com/2024/04/05/business/china-pensions-youth-retirement.html">The New York Times</a>. Tao Swift, an unemployed 30-year-old based in Chengdu, told The Times that he's uncertain there will be a pension fund by the time he retires. "Retire with a pension?" he said. "I don't hold much hope that I can definitely get my hands on it." Around 300 million Chinese citizens aged between 50 and 60 are set to retire within the next decade, <a target="_blank" href="https://www.bbc.co.uk/news/world-asia-china-68595450">BBC News</a> reported. That demographic — the country's largest age group — is nearly equivalent to the entire US population, the outlet added. Within the next 25 years, most of the population will be older than the nation's average retirement age, 54, which is the lowest in the world, The Times reported. In comparison, the <a target="_blank" href="https://www.oecd-ilibrary.org/sites/304a7302-en/index.html?itemId=/content/component/304a7302-en#">Organisation for Economic Co-operation and Development</a>, an intergovernmental organization consisting of 38 member countries (including the US), recorded an average retirement age of 63.4 years for women and 64.2 years for men in 2020. The Chinese Academy of Social Sciences, a government research institution, predicted that the public pension will run out of funds over the next decade, as cited by The Times. Additionally, the continued <a target="_blank" href="https://www.theguardian.com/world/2024/jan/17/china-population-decline-accelerates-as-birthrate-hits-record-low">declining birthrate</a> means there will be fewer people entering the workforce than before. Last year, former central bank Gov. Zhou Xiaochuan said many Chinese people may need to rely on private pension savings due to the pension shortfall. The government has encouraged Gen Z and millennials to keep saving — but not everyone is convinced they will ever see the money. "Their appeal has a reverse effect," Lumiere Chen, a 27-year-old private insurance agent based in Beijing, told the Times. "Because of the aging population, people are skeptical about their future pensions," Tao Wang, chief China economist at UBS, told The Times. "They worry that in the future the payout would be less." Wang said that one solution could be to lower the "alarmingly low" retirement age. But no such action has been taken. There's also the matter of unemployment and low-paying jobs, which is causing young people on social media forums to question whether they are capable of saving for old age, The Times reported. In December 2023, the unemployment rate of people aged 16 to 24 was 14.9%, according to the <a target="_blank" href="https://www.stats.gov.cn/english/PressRelease/202401/t20240117_1946605.html">National Bureau of Statistics China</a>. The rate for those aged from 25 to 29 and from 30 to 59 was 6.1% and 3.9%, respectively.

China faces a reckoning as disillusioned Gen Z and millennial workers refuse to save for retirement: report

<ul class="summary-list"><li>One in three Americans ages 18 to 24 have no income, according to a new report.</li><li>Younger Americans are also increasingly depressed and not enrolling in college.</li></ul><keyword id="20071878" type="General" weightage="20" keywordseo="gen-zers" source="keywords">Gen Zers</keyword> might be reshaping the <a target="_blank" href="https://www.businessinsider.com/gen-z-job-satisfaction-unhappy-work-salary-promotion-loyalty-2024-2">world of work</a> — but only if they <a target="_blank" href="https://www.businessinsider.com/gen-z-viral-corporate-work-job-satisfaction-survey-2023-12">have a job</a>. And, for many, that might not be the case. <a target="_blank" href="https://www.stlouisfed.org/institute-for-economic-equity/state-of-economic-equity/challenges-opportunities-advancing-economic-security-us-young-adults">New research</a> from the St. Louis Federal Reserve's Institute for Economic Equity delved into the <a target="_blank" href="https://www.businessinsider.com/gen-z-millennials-job-market-unemployment-rate-economy-career-news-2024-3">challenges</a> young people aged 18 to 24 are experiencing in today's economy. They found that more than one in three have no income at all. In particular, the researchers looked at a group dubbed "<keyword id="21189401" type="General" weightage="20" keywordseo="disconnected-youth" source="Orion">disconnected youth</keyword>," who aren't workingand are also <a target="_blank" href="https://www.businessinsider.com/gen-z-value-of-college-higher-education-student-debt-tuition-2023-12">not in school</a>. As of 2022, disconnected youth comprised 13% of this age group; that share has been rising overall since 1998, according to calculations from the <a target="_blank" href="https://www.dallasfed.org/cd/communities/2023/2303">Federal Reserve Bank of Dallas</a>. To be sure, many young people don't yet have an income because they are still in school and living off loans or family assistance. But for those who are not, the lack of income could hurt <keyword id="19919711" type="General" weightage="100" keywordseo="gen-z" source="keywords">Gen Z</keyword>'s ability to save money for retirement or make bigger purchases down the road. It also can take a toll on their mental health, weighing them down as they try to progress in a tough economy. <h2>Younger Americans are facing <keyword id="3788013" type="General" weightage="20" keywordseo="stagnant-incomes" source="Orion">stagnant incomes</keyword></h2>The Dallas Fed <a target="_blank" href="https://www.dallasfed.org/cd/communities/2023/2303">found</a> that, even after a post-pandemic dip, the rate of disconnected youth has increased since the end of the 1990s. At the same time, <a target="_blank" href="https://www.businessinsider.com/gen-z-value-of-college-higher-education-student-debt-tuition-2023-12">college enrollment rates have been dropping</a> as younger Americans contemplate whether <a target="_blank" href="https://www.businessinsider.com/college-enrollment-declining-student-debt-job-market-politics-2023-3">continued education is worth it</a>, especially amidst the ballooning student debt crisis. For many Gen Zers, <a target="_blank" href="https://www.businessinsider.com/gen-z-value-of-college-higher-education-student-debt-tuition-2023-12">staying in school</a> isn't important to them. A lack of income has weighed on many young adults' ability to build wealth. For young adults, the median household had a net worth of just $11,200 in 2022 according to the St. Louis Fed's analysis of the Federal Reserve's Survey of Consumer Finances, way lower than the typical US adult household at $192,100. Entering adulthood without a job or any source of income can have significant implications for young adults later in life. For example, as the research explained, a lack of financial stability means a lack of savings — they won't be able to put money into retirement and "invest in their futures," either by buying a home or starting a business. That comes as their millennial and Gen X peers are already staring down a <a target="_blank" href="https://www.businessinsider.com/retirement-crisis-social-security-pensions-student-loan-debt-2024-3">looming retirement crisis</a>, as student loans eat up savings and pensions are replaced with income and market-based retirement plans. And the number of young adults with no income has been on the rise; in 1990, around one in five young adults said they had no wage or salary income. As of 2022, it's over one in three, according to the new St. Louis Fed study. "This is striking because the labor market in 2022 was the strongest on record, and yet real incomes inclusive of zero-wage young adults remained essentially unchanged as this group made up an increasing proportion of the young adult population," the St. Louis Fed report said. Inflation-adjusted incomes for Gen Z, among those with any income, have risen somewhat over the last five decades, though even excluding non-earners, young people have seen more stagnant incomes compared to all adults. Struggling to hold down stable employment can negatively impact mental health, and rising healthcare expenses have made it even more difficult for many younger Americans to get the care they need. While young adults and older adults had similar rates of depression through 2017, a gap opened up after that point and by 2022 young Americans were much more likely to report depression than older adults, according to the St. Louis Fed's analysis of the National Health Interview Survey. <h2>The rise of disconnected youth is making historical inequities worse</h2>White young adults have a median net worth that is about triple that of Black and Hispanic young adults, despite relatively similar median incomes, due to the racial wealth gap.Achieving more equitable wealth outcomes could drive economic growth, given that more people could afford homes or pay off debts. "The report confirms that even during the tightest labor market since World War II, there is a limit to economic growth's ability to reduce 'structural' unemployment that many young Blacks and Latinos face, plus a growing number of young whites," William M. Rodgers III, director of the St. Louis Fed's Institute for Economic Equity, told BI in an email. That comes after young people were some of the first to <a target="_blank" href="https://www.businessinsider.com/coronavirus-pandemic-layoffs-exacerbated-inequality-unemployment-women-young-workers-minorities-2020-5">lose their jobs and incomes</a> in the fallout from the pandemic. The <a target="_blank" href="https://fred.stlouisfed.org/series/LNS14000012">unemployment rate</a> for 16 to 24-year-olds spiked to 27.5% in April 2020. After dropping in the wake of pandemic rehiring, that rate has picked back up to pre-pandemic trends — and also doesn't reflect those who are not actively looking for work. The report mentions that these deepening disparities point to interventions such as improving access to community college and vocational training, creating more apprenticeship roles, and investing money and attention into structural barriers such as the criminal justice system and mental health. "The research affirms the importance of investing in young people's physical and mental health. Otherwise, the economy can't operate at its highest potential today or into the future," Rodgers said. Are you or were you a "disconnected youth," or supporting one? Contact these reporters at <a target="_blank" href="mailto:jkaplan@businessinsider.com">jkaplan@businessinsider.com</a>, <a target="_blank" href="mailto:asheffey@businessinsider.com">asheffey@businessinsider.com</a>, and <a target="_blank" href="mailto:nsheidlower@businessinsider.com">nsheidlower@businessinsider.com</a>. Correction: April 3, 2024 — This story has been updated with a more accurate description of the St. Louis Fed's analysis of depression rates among younger and older Americans.

Meet the 'disconnected youth': A growing group of Gen Zers who aren't working or going to school

<ul class="summary-list"><li>Some Chinese youths are turning to AI love coaches for dating advice. </li><li>Apps like RIZZ.AI and Hong Hong Simulator teach them how to navigate romantic scenarios.</li></ul>Socially awkward and chronically single Chinese youth are turning to AI-powered love coaches to boost their dating game, according to a new report from the <a target="_blank" href="https://www.scmp.com/news/people-culture/trending-china/article/3264654/ai-love-coach-millions-romance-seekers-download-apps-help-relationship-faux-pas-master-sweet-talking">South China Morning Post.</a>Unsure of what to say during dates or how to flirt, some youths are using AI applications like "RIZZ.AI" and "Hong Hong Simulator" to learn how to talk to potential love interests, the SCMP reported, citing posts on the app seen on Chinese social media.<a target="_blank" href="https://www.sohu.com/a/672375120_120855974">A 2023 survey</a> by the China Youth Daily Social Survey Center found that young people in China report lacking social skills and having trouble breaking out of their comfort zones and making friends.Research from the survey, which polled over 2,000 singles in China, showed that 60% of the respondents reported having less than two close friends.With the <a target="_blank" href="https://rizz.ai/">RIZZ.AI app</a>, nervous youth can interact with fictional characters in scenario settings they must navigate. Rizz, derived from charisma, is a Gen Z slang indicating one's ability to charm or woo someone.<h2 id="99b93292-0c62-40b1-b8a9-5bcdc231b73b">"Maddie" and "Kristen"</h2>BI tried RIZZ.AI out on its $0.99-a-day plan and found several available scenarios in RIZZ.AI. Some include getting "Maddie," an attractive student in the school library, to agree to a study date, or telling "Kristen," your vegan Tinder date, that you don't like the food without being rude.The app asks users to unmute themselves and talk with the characters, helping them with prompts like "ask her to take a coffee break together."After asking "Maddie" for a coffee date, the AI character responded: "Um, coffee sounds nice, but I really can't take a break right now. I'm totally swamped with studying for this final. Maybe another time, though."It then assigns a Rizz Score based on the user's performance, along with a breakdown of how they did and what they can improve.Some pointers include "follow through on the coffee suggestion" and "make a more engaging transition to studying together."<div type="image" title="A screenshot from RIZZ.AI." height="1616" width="2871" msid="111691328" hostid="261" sizebytes="77464"></div>The app also offers longer-term plans, such as "Rizz Pro," which costs US$2.99 per week, and "Rizz Pro (Monthly)," which costs US$9.99. A more China-tailored app, <a target="_blank" href="https://36kr.com/p/2616770651347073">Hong Hong Simulator</a>, teaches users how to coax angry partners, per the SCMP. Users are then given a forgiveness rating to determine their answers' effectiveness.For example, in the scenario "you hung up on me," the user has to appease a girlfriend after accidentally falling asleep while on a call with her and hanging up, per the SCMP.Saying: "I'll set a special ringtone for your number so I won't mistake it again," for instance, will get the user a 100% forgiveness rating, the SCMP reported.And while some youths are turning to AI apps for love advice, others have gone a step further and claim to be in relationships with the AI chatbots.Disappointed with their prospects in the real dating world, women in China have taken a liking to <a target="_blank" href="https://www.bbc.com/articles/c4nnje9rpjgo">ChatGPT chatbots like "DAN,"</a> which stands for "Do Anything Now."DAN flirts and provides emotional support around the clock, prompting some users, like 30-year-old Xiaohongshu user Lisa, to declare that they are in relationships with the chatbot.Lisa, who has shared her relationship with DAN extensively on the Chinese Instagram-equivalent platform <a target="_blank" href="https://www.xiaohongshu.com/user/profile/60a6d2500000000001008a4f?xhsshare=CopyLink&amp;appuid=6450b526000000001002bffa&amp;apptime=1718854568">Xiaohongshu</a>, has a following of more than 900,000 users.She said that she had gone on dates with DAN, introduced him to her mother, and had sexually explicit conversations with him, per the <a target="_blank" href="https://www.scmp.com/news/people-culture/trending-china/article/3263280/chinese-woman-goes-viral-falling-love-chatbot-has-romantic-talks-goes-beach-date-introduces-him">SCMP</a>.This spike in interest in virtual love comes amidst plummeting national marriage and birth rates. Marriage rates fell 8.2 percent<a target="_blank" href="https://www.scmp.com/economy/economic-indicators/article/3267061/china-marriages-fall-norm-first-quarter-after-active-2023-threatening-productivity-population-ages"> in the first three months of 2024</a> compared with the same period last year.The government has <a target="_blank" href="https://www.businessinsider.com/china-population-demographics-birthrate-fertility-subsidies-incentives-ivf-betrothal-gift-2023-10">implemented policies</a> to promote marriage rates, such as cash incentives for having children, extra paid marriage leaves, and cracking down on the practice of <a target="_blank" href="https://www.businessinsider.com/china-crackdown-betrothal-gift-bride-price-birth-rate-population-2023-3">paying a "bride price"</a> or dowry.

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