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:Yeah, keep laughing, UMC

[Vlad_the_Inhaler]

This is happening all over the developed world.
The root cause is competition from places like China, India, Vietnam or Thailand. US/EU/Whatever companies are free to farm work out to these countries (or import workers from there) and they simply work for less. A lot of jobs in the EU have also moved to countries like Hungary, Poland or Estonia.

I'm not sure you can blame any "greed-pig" class, many people here use websites to see where they can buy things for 10c less and that comes at a price.