Millennials Set To Earn Less Than Generation X (bbc.com)

Reader AmiMoJo writes: Millennials are set to become the first generation to earn less than their predecessors, new research suggests. The Resolution Foundation found that under-35s earned 8,000 pound ($10,600) less in their twenties than Generation X workers. If wages for millennials follow the same path as Generation X, average career earnings will be about 825,000 pound ($1.1m). That would make them the first generation to earn less than their predecessors over the course of their working lives. Research found that some of the pay squeeze was due to under-35s entering the job market as the recession hit, but it also concluded that generational pay progress had ground to a halt even before the financial crisis struck in 2007/8.

Comments

Re:I'm totally shocked...

[whoever57]

So with lower taxes we squandered it on socialism?

How much was squandered in the Middle East? Trillions squandered so that Cheney and friends could make a few millions.

Re:Standard of living

[PopeRatzo]

In the 1970's a kid straight out of high school could get a job, get married, buy a 3 bed house + garage + car in the suburbs and raise 2.6 children on one paycheck.

And have a pension when he retired.

People who don't realize just how fucked things are have their heads in the sand. People who think Donald Trump is going to fix it have their heads up their asses.