Comparing 25-34 year olds now to 25-34 year olds in 1989 is super depressing
The data was compiled by Washington, DC-based think tank, The Young Invincibles (YG).
Thanks to macro economic forces (like the Great Financial Crisis) and technological change, Millennials are "the most educated, most diverse, and most indebted generation in America's history."
What's worse, little is being done on Capitol Hill - or in state capitols around the country - to secure their futures and the future of this country. YG looked at a number of economic statistics for 25-34 year olds in 2013 and compared them to the same age group in 1989.
"The declines across education levels were so steep that young people today that have a degree with debt earn roughly the same as young workers with no degree in the late 1980s," said the report.
Racial disparities, especially between white Americans and African Americans, worsened dramatically. White young adults accumulated four times the assets, and are twice as likely to own a home as African Americans (and Latinos), for example.
So, it's not a pretty picture.
- Not hard, not soft, the earliest dino eggs may have been of a 'leathery' texture to protect against damage: study
- Don't need to go big to go home: Australia is turning to sustainable 'tiny houses' to fix their housing crisis!
- Affordability levels to buy homes hit in last 2 years; to improve in 2024 on likely repo rate cut: JLL
- Carbon tax turns into climate fight at COP28
- Market to focus on macro data, global trends: Analysts