The Economic Status of Millennials
In the Stanford Center on Poverty and Inequality’s annual report, experts examine how Americans in their 20s and 30s are faring economically. Those with college degrees earn about the same as Baby Boomers and Gen Xers did when entering the labor market, but those without college degrees earn much less money than in previous generations. Millennial labor force activity has declined at a higher rate than other generations, and they are less economically mobile than their parents. And while occupation segregation by gender has declined, racial and ethnic occupation segregation hasn’t, impacting wages. Homeownership rates among the cohort are lower – and the racial homeownership gap is higher – than any generation over the past century.