Within the past few decades, young workers’ economic situation has changed dramatically. According to Census data released last week, “the typical” Millennial now makes $2,000 less than their parents did at the same age. There is no single explanation for this economic difference, but combined, the recession, globalization, technological changes, immigration, and slow wage growth may be factors in this phenomenon. The earnings drop for the generation has been steeper in certain parts of the U.S., especially those that were once industrial centers, and it is clear that many are “clearly falling behind the pace of [their] parents.” (The Atlantic)
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