Are Millennials as broke as the media says they are?
Nov 27, 2015 21:14:41 GMT -5
Post by J.J.Gibbs on Nov 27, 2015 21:14:41 GMT -5
Are Millennials as broke as the media says they are?
Millennials are the poorest income group in the United States
My Budget 360 - November 27, 2015 7 Comments
If you type in “characteristics of the Millennial generation” into trusty Google you will find a list of interesting headlines. Some of the titles given to Millennials are: Generation Y, Generation WE, The Boomerang Generation, and The Peter Pan Generation. Part of this stems from the way many were raised by baby boomers who were promising their kids the world. Many felt that leaving college with any degree would be enough for a high income and an avalanche of jobs hitting their email box. None of this really materialized. Unrealistically high expectations. Denmark, which typically ranks among the “happiest” countries in the world carries one interesting trait – have low expectations. In fact, most Millennials are struggling in the current economy. The Millennial generation leads the way in the amount of student debt it carries. Many are stuck in low wage jobs earning so little, they are living with their parents deep into adulthood. How broke are Millennials? Pretty broke when you look at the data.
Blame it on income
A very high number of Millennials don’t even work or if they are working, are stuck in a low wage job. Close to half of recent college graduates are working in jobs that don’t even relate to their undergraduate degree. Not a problem when you pay little for college but this can be an issue when you are going into tens of thousands of dollars of debt to finance your studies.
Income for Millennials has fallen across virtually all employment sectors:
Full story with charts and graphs at link.
Millennials are the poorest income group in the United States
My Budget 360 - November 27, 2015 7 Comments
If you type in “characteristics of the Millennial generation” into trusty Google you will find a list of interesting headlines. Some of the titles given to Millennials are: Generation Y, Generation WE, The Boomerang Generation, and The Peter Pan Generation. Part of this stems from the way many were raised by baby boomers who were promising their kids the world. Many felt that leaving college with any degree would be enough for a high income and an avalanche of jobs hitting their email box. None of this really materialized. Unrealistically high expectations. Denmark, which typically ranks among the “happiest” countries in the world carries one interesting trait – have low expectations. In fact, most Millennials are struggling in the current economy. The Millennial generation leads the way in the amount of student debt it carries. Many are stuck in low wage jobs earning so little, they are living with their parents deep into adulthood. How broke are Millennials? Pretty broke when you look at the data.
Blame it on income
A very high number of Millennials don’t even work or if they are working, are stuck in a low wage job. Close to half of recent college graduates are working in jobs that don’t even relate to their undergraduate degree. Not a problem when you pay little for college but this can be an issue when you are going into tens of thousands of dollars of debt to finance your studies.
Income for Millennials has fallen across virtually all employment sectors:
Full story with charts and graphs at link.