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Millennials are getting screwed by the economy. Again.
Posted on 4/21/20 at 2:31 pm
Posted on 4/21/20 at 2:31 pm
quote:
Two once-in-a-lifetime crises have had devastating consequences for millennials.
Here’s a brutal statistic: One poll found 52 percent of Americans under the age of 45 have either lost their job, been put on leave, or had their hours dramatically cut as a result of the coronavirus pandemic, compared to 26 percent of people over the age of 45.
In other words, millennials are going to bear the brunt of this economic crisis, just as they did in 2008. The Great Recession upended the economy as many millennials were entering the labor force for the first time. The pandemic and the resulting economic shock have hit as many are entering their 30s and could erase any gains they’ve made.
Annie Lowrey, an economics writer at the Atlantic and the author of Give People Money: How A Universal Basic Income Would End Poverty, Revolutionize Work, and Remake the World, argued in a recent piece that millennials are essentially “a lost generation,” having entered the labor force during the Great Recession in 2008 and now facing a second “once-in-a-lifetime downturn.”
Millennials, Lowrey argues, have never really had any economic security, and this pandemic all but guarantees “that they will be the first generation in modern American history to end up poorer than their parents.”
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Posted on 4/21/20 at 2:32 pm to RLDSC FAN
Uh, we have a recession on average every 15 years or so. This isnt some new phenomenon
Millennials acting like victims
Millennials acting like victims
This post was edited on 4/21/20 at 2:33 pm
Posted on 4/21/20 at 2:33 pm to RLDSC FAN
They wouldn't have saved money even if they kept their jobs
Posted on 4/21/20 at 2:33 pm to RLDSC FAN
Some people like getting screwed
Posted on 4/21/20 at 2:33 pm to RLDSC FAN
Meh, most of them will come out on top with the unemployment increase and stimulus check. Quit bitching and im a millennial.
Posted on 4/21/20 at 2:35 pm to RLDSC FAN
Many of those people that were under 45 12 years ago are no longer under 45. I’d guess about half are now 45 or over.
Posted on 4/21/20 at 2:35 pm to RLDSC FAN
I knew people who grew up during the great depression that didn't complain the way millennials do.
Posted on 4/21/20 at 2:35 pm to RLDSC FAN
It's definitely ******* with my gains.
Posted on 4/21/20 at 2:35 pm to RLDSC FAN
quote:
Millennials are getting screwed by the economy. Again.
Dude, this is time to buy. Millennials getting into stocks on the cheap will make big reward in years to come.
Posted on 4/21/20 at 2:44 pm to RLDSC FAN
More millennials should go work for Investment Banks
Posted on 4/21/20 at 2:51 pm to RLDSC FAN
One final screwjob by the POS boomers
Posted on 4/21/20 at 2:52 pm to RLDSC FAN
quote:
Annie Lowrey, an economics writer at the Atlantic
Three problems right off the bat: female, economics "expert", and The Atlantic. AOC without the political position.
Posted on 4/21/20 at 2:53 pm to RLDSC FAN
You'll get pushback and downvotes, but millenials really were dealt a shitty economic card in both 2008 and now. Some millenials were just getting back to where they should have been only to get kicked in the teeth again by this covid BS. So it goes. Sure, we'll bitch on social media, but we'll get back up. We've done it before.
On the plus side when all things are considered, the War on Terror wasn't too bad to the males of our generation when compared to other wars fought by older generations.
On the plus side when all things are considered, the War on Terror wasn't too bad to the males of our generation when compared to other wars fought by older generations.
Posted on 4/21/20 at 2:54 pm to RLDSC FAN
I generally don't like to post in these broad-brush threads about generations. But for the most part, if you look at a professional's career they spend their 20's learning the craft, 30's leading a team, 40's managing a division, 50's running the company, 60's consulting...
Of course, the above is insanely generalized...but if you look at the average career of someone who is motivated to succeed it's a good baseline.
So those millennials who are in their mid-30's and getting leadership opportunities are now being laid off, delayed promotions again, etc.
Of course, the above is insanely generalized...but if you look at the average career of someone who is motivated to succeed it's a good baseline.
So those millennials who are in their mid-30's and getting leadership opportunities are now being laid off, delayed promotions again, etc.
Posted on 4/21/20 at 2:55 pm to RLDSC FAN
i blame it on avocado toast and micro breweries. god is saying you are doing it wrong..
ham sandwich and miller high life is what jesus would consume
ham sandwich and miller high life is what jesus would consume
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