Millennials in the US are earning 20% less than their parents at their age, despite having been better educated, according to new data from Young Invincibles. Tom Allison, the group's deputy research director, said: "These findings uncover that millennials have been set back significantly, by not just the Great Recession but by decades-long financial trends, resulting in major generational declines in financial security between millennials and baby boomers when they were the same age. The report shows that millennials, who have grown up with smartphones and social media, earn just 18% more on average compared to Gen Xers of the same age.
Millennials in the US are earning 20% less than their parents at their age, despite having been better educated, according to new data from Young Invincibles. The report shows that millennials, who have grown up with smartphones and social media, earn just 18% more on average compared to Gen Xers of the same age.