The Intergeneration Commission has released their latest report and the results aren't good for millennials---they are likely to be the first generation to earn less than their predecessors. Lack of home ownership and a continued pay squeeze in the wake of the financial crisis have been the most important determinants of this negative outcome.
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Millennials Will Be First Generation to Earn Less Than Parents
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These numbers are worse than people thought because of a “pay squeeze” that has put millennials on the receiving end of “small” cuts that line the wallets of older generations. While part-time labor and below minimum wage salaries have been able to keep dwindling companies afloat, this generation has taken the fall. And, unfortunately, the amount people talking about it has had little to no effect on the way things get done.
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