MILLENNIALS ALL OVER THE WORLD ARE WORSE OFF THAN GEN XERS WERE AT THEIR AGE
Millennials are doing worse than the generation before them did at their age. In an analysis of eight high-income countries, the Resolution Foundation think tank found millennials in their early 30s have household incomes four percent lower, on average, than members of so-called Generation X (born between 1966 and 1980) had at the same age.
Britain and Spain stand out most. In the U.K., Generation X were 54 percent better off than baby boomers (born between 1946 and 1965.) By contrast, Millennials (born between 1980 and 2000), had incomes just six percent higher than those of Generation X at the same age.
Daniel Tomlinson, a policy analyst at the Resolution Foundation adds, “It’s no secret that the financial crisis hit the vast majority of advanced economies hard, holding back Millennial income progress in countries around the world.”
(Pulse Networks)