The “poorest” singles are men. In this category, in fact, gender pay equality has been reversed: women earn more than their male peers.
Singles are not richer: young “lonely hearts” are much poorer than their peers who are married or in a stable relationship. Various studies demonstrate this, the latest of which comes from the British Center for Social Justice (Csj).
The study revealed that single men aged 16 to 24 earn on average £5,000 less a year than those who are married or cohabiting. In 2022/2023, the “coupled” in fact reached around 27,117 pounds per year, while the singles stopped at 22,297.
Decline in marriages. Also worsening finances in the aforementioned age group is the general decline in marriages, which have fallen dramatically over the last fifty years (from almost 250,000 in 1971 to just 8,000 in 2022).
Gender gap. The study highlights that steady relationships have a positive impact on young people’s finances, generating psychological and social benefits. A curiosity: among singles, gender pay equality has reversed, with women now earning more than their male peers.
