Millennials have now overtaken baby boomers as America’s largest living generation according to Pew Research. Millennials as defined by Pew as ages 18-34 now number 75.4 million, slightly edging out Baby Boomers (ages 51-69) numbering 74.9 million.
Millennials also have a few other things going for them, however not in a good way.
As the WSJ reports, Millennials in New York City are earning about 20% less than the previous generation of workers, and they are absolutely drowning in $14 billion in debt.
The average working 23-year old in New York City earned $23,543 compared to $27,731 in 2000 (adj. for inflation). Moving up the age scale a bit, the average 29-year old made $50,331 in 2014 versus $56,026 in 2000.
This post was published at Zero Hedge on 04/27/2016.
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