Hold My Avocado

Our generation is in trouble, but we can do something about it

  • Millennials earn $2,000 less than their parents did at a comparable age, and they are more likely to live in poverty. In fact, millenials’ net worth is anywhere between 34% and 50% lower than what previous generations had at their age
  • A millennial with a college degree in 2018 earns the same amount as someone in 1989 with only a high school education. Earnings with only a high school degree have also dramatically decreased
  • In 1979, it took a student working at minimum wage 385.5 hours to pay off one year of the average college tuition. Today, it takes 2,229 hours to do the same. From 1963 to 2013, the average price of college more than doubled, adjusted for inflation
  • Right now, millennials have taken on at at least 300% more student debt than their parents, and 56% of millennials with student loans have delayed a major life event — including getting married or having kids — because of their debt. Young men and women who graduated in 2015 owed, on average, around $35,000, about twice the amount of their counterparts two decades ago, after adjusting for inflation
  • Nevertheless, Millennials are still rushing to get degrees, in part because the alternatives are getting worse.
  • The share of young adults in their 20s living with their parents is the highest it’s been in 75 years (3 times as many as in the 1970s) because of all the above. No group has been immune from the trend
  • Furthermore, millennials are half as likely to own a home as most young adults were in 1975
  • Cherry on top: millennial employees face a higher level of depression than any other generation

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This article was originally made for The Pourquoi Pas, an online magazine providing in-depth analyses of today’s technological challenges. Click here to access it.

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