Written before Covid 19.
https://www.cnbc.com/2019/11/05/mil...han-boomersdespite-being-better-educated.html
Millennials earn 20% less than baby boomers did—despite being better educated
Published Tue, Nov 5 20198:30 AM ESTUpdated Tue, Nov 5 20194:46 PM EST
Millennials are facing a shortfall compared to other generations when it comes to their paychecks.
Overall, millennials earn 20% less than baby boomers did at the same stage of life, according to “The Emerging Millennial Wealth Gap,” a recent report from the nonprofit, nonpartisan think tank New America. Specifically, median earnings for those 18 to 34 are lower than they were in the 1980s, a disparity that was first noted in a 2017 report from the non-profit Young Invincibles. And the flow of today’s paychecks is less predictable due, in part, to the effects of the Great Recession and a rise in contract and freelance positions that may be less consistent in hours and pay.
That’s in spite of overall higher education levels. Nearly 40% of millennials 25 to 37 have at least a bachelor’s degree, compared to just a quarter of baby boomers and 30% of Gen X when they were the same age, Pew Research Center found.