Purchasing power through real inflation adjusted wages hasn't increased since the 70's, but costs of living have [1]. I don't think "previous generations had it way worse" than us in all regards.
You'll find Jamaica, Syria, Guatemala, Pakistan, Venezuela, Iraq, Egypt, Mexico, Kenya, and a whole host of countries that are far poorer off than USA but have much lower suicide rates. You'll also notice that Japan and South Korea are higher than ours. Why is that? Poverty or economic hardship is not a predictive indicator of suicide.
You'll find Jamaica, Syria, Guatemala, Pakistan, Venezuela, Iraq, Egypt, Mexico, Kenya, and a whole host of countries that are far poorer off than USA but have much lower suicide rates. You'll also notice that Japan and South Korea are higher than ours. Why is that? Poverty or economic hardship is not a predictive indicator of suicide.