A recent article in The Atlantic reported on the struggles of young Americans to get a good job and to make enough money so they can save for the future. Have a look at how this generation has performed economically compared to others as measured by savings rates (Chart 1).The same generational imbalance has happened in Canada. The Conference Board reports younger workers in Canada are making less money relative to their elders regardless of whether they’re male or female, individuals or couples, and both before and after tax.
The average disposable income of Canadians between the ages of 50 and 54 is now 64% higher than that of 25- to 29-year-olds. That’s up from 47% in the mid-1980s.
So what has this crucial social issue have to do with dental services?
Try this:
- Unless young working Canadians have dental insurance, are they likely to purchase dental services with limited incomes?
- Young Canadians tend to work in entry-level sectors like retail — these sectors don’t tend to have dental benefits, and so the habit of going to the dentist can be broken.
There’s a reason why in many waiting rooms, more than half are past mid life. Older Canadians have the incomes and they have the habits of visiting the dentist from years of generous dental benefits.
The generational divide in Canada impacts the future of dental services.
Chart 1: Which generations are saving in America?
By: Ross Perry
SOURCED: Partners In Prevention – http://partnersinprevention.ca/the-generational-divide/
