Global Risks Report 2014: finding a path for 'Generation Lost'
High unemployment, the rising cost of education and an aging population in need of support: these are the issues that await "Generation Lost" – also known as "millennials." In the Global Risks Report 2014, Swiss Re discusses ways to ease their burden.
This year's Global Risks Report (PDF, 3.76 MB) looks at the changes recent discoveries and events have brought – for example, the Internet, mobile technology and geopolitical shifts – combined with the shifting global landscape overall.
Continuing our Generations theme, Swiss Re has contributed the chapter "Generation Lost?" to the Report, which is produced by the World Economic Forum. Using data from our Risk perception survey, we analysed what the future may hold for "millennials," youth aged roughly 14 to 23.
A looming legacy
"Generation Lost" isn't actually lost: its members are realistic and versatile. But due to the path we're forging for them today, one of economic instability, the effects of climate change, and endangered pension plans, they may find themselves paying for the previous generation's actions.
"The report draws our attention to how chronic unemployment across many countries is preventing our youth's efforts 'to earn income, generate savings, gain professional experience and build professional careers,'" says David Cole, Swiss Re's Chief Risk Officer on our Open Minds blog.
"These issues demand attention if we are to avert 'the risks of a breakdown in social cohesion and enduring loss of human and economic potential.'"
Generation Lost speaks
In the Report, Swiss Re looks at the future of education as the cost of higher education rises each year. Also examined is the role of technology in the lives of Generation Lost, along with their political engagement – or disengagement – and the health protection gap. The study also delves into measures to mitigate tension between generations.
But what's most important is engagement and listening to Generation Lost. We wanted to know their opinion about the Report results and their future overall. Here's what they had to say.
Find out more
- Download Global Risks Report 2014 (PDF, 3.76 MB)
Published 16 January 2014
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