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The unluckiest generation in U.S. history
Posted on 5/27/20 at 12:55 pm
Posted on 5/27/20 at 12:55 pm
quote:
After accounting for the present crisis, the average millennial has experienced slower economic growth since entering the workforce than any other generation in U.S. history.
Millennials will bear these economic scars the rest of their lives, in the form of lower earnings, lower wealth and delayed milestones, such as homeownership.
This recession steamrolled younger workers just as millennials were entering their prime working years — the oldest millennials are nearing 40 while the youngest are in their mid-20s. Millennial employment plunged by 16 percent in March and April this year, our calculations show. That’s faster than either Gen X (12 percent) or the baby boomers (13 percent).
Proportionally, the even younger generation, known as zoomers, suffered worse than all of them. A third of their jobs vaporized in two months in 2020. But Gen Z is only just entering the labor force — the oldest zoomers are in their early 20s — so their losses weren’t as large in absolute terms.
Gray Kimbrough, an economist with American University who we’ve previously and accurately branded a serial millennial myth debunker, points out the oldest millennials, such as himself, lived through the 9/11 terrorist attacks and entered the labor market in the recession that hit around the same time. They spent their early years struggling to find work during a jobless recovery, only to be hit by the Great Recession and another jobless recovery. And, of course, yet another recession.
LINK
Posted on 5/27/20 at 12:56 pm to Bench McElroy
quote:
The unluckiest generation in U.S. history
Children and grandchildren of the boomers
Posted on 5/27/20 at 12:56 pm to Bench McElroy
Peak of technology and medicine. All time low in crime.
My heart bleeds.
My heart bleeds.
Posted on 5/27/20 at 12:57 pm to Bench McElroy
I got to see tGOAT MJ play on NBC
Im cool
Im cool
Posted on 5/27/20 at 12:57 pm to Bench McElroy
I don't know. I'm a millennial, but I kinda feel like the generations that died in the Civil War, WWI, and WWII kinda had it worse
Posted on 5/27/20 at 12:57 pm to Bench McElroy
quote:
Millennials will bear these economic scars the rest of their lives, in the form of lower earnings, lower wealth and delayed milestones, such as homeownership.
Posted on 5/27/20 at 12:57 pm to Bench McElroy
(no message)
This post was edited on 1/11/21 at 12:54 am
Posted on 5/27/20 at 12:58 pm to PrivatePublic
No kidding, I'll take the higher standard of living and no major wars over that same span instead of complaining.
Besides the job losses are completely subsidized right now so it's not like people are starving in the streets lol
Besides the job losses are completely subsidized right now so it's not like people are starving in the streets lol
This post was edited on 5/27/20 at 12:59 pm
Posted on 5/27/20 at 12:59 pm to Bench McElroy
Millennials want everything handed to them. If someone walked up with a silver platter with everything they wanted on it half of them would be too lazy to stand up and grab the platter. You gotta make some moves to move up in the world.
eta: nice downvotes but im a millennial myself and I see it in people around my age. They don't want to work for shite.
eta: nice downvotes but im a millennial myself and I see it in people around my age. They don't want to work for shite.
This post was edited on 5/27/20 at 1:13 pm
Posted on 5/27/20 at 1:00 pm to Bench McElroy
whiniest generation in U.S. history
Posted on 5/27/20 at 1:00 pm to Bench McElroy
can we have this post Fact checked like Twitter?
Posted on 5/27/20 at 1:01 pm to wutangfinancial
Oh good. We haven’t had a “woe is me, I’m so put upon” millennial thread in a while.
Quick send up the bat signal so all the kids can come blame everyone else for their pitiful existence.
Quick send up the bat signal so all the kids can come blame everyone else for their pitiful existence.
Posted on 5/27/20 at 1:01 pm to Bench McElroy
Not this shite again.
Born in 86
Born in 86
Posted on 5/27/20 at 1:01 pm to Bench McElroy
The depressing part is that the full extent won't be realized until years down the road. Only then will the stunted professional and financial growth be evident.
Posted on 5/27/20 at 1:02 pm to Salmon
quote:
I kinda feel like the generations that died in the Civil War, WWI, and WWII kinda had it worse
Watching Grant on History Channel the last couple of nights, I can only imagine how bad it was being a soldier during the Civil War.
Posted on 5/27/20 at 1:02 pm to Bench McElroy
quote:
The unluckiest generation in U.S. history
quote:
millennial
Bless their little hearts
Posted on 5/27/20 at 1:03 pm to Salmon
Think about someone born in the south just before the civil war. Let’s say 5 years before. That son of a bitch would probably still be hard enough to fight in WWII
This post was edited on 5/27/20 at 1:03 pm
Posted on 5/27/20 at 1:04 pm to Bench McElroy
Get back to me when they spend their adolescent and teen years wondering where their next meal is coming from then get thrown headlong into a world war.
Posted on 5/27/20 at 1:04 pm to REB BEER
quote:
I can only imagine how bad it was being a soldier during the Civil War.
According to the article, millenials do know what it was like, but worse. They've had to endure sitting on their arse for 6 weeks. THE HORROR!!!
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