Re:Over Half of U.S. Young Adults Now Live with Their Parents
by Jtsummers on Monday November 30, 2020 @02:09PM
(#25257566)
Wages for equivalent experience have held steady or declined for many Americans over the past 40 years. Women are making more (but more are part of the workforce, plus efforts to ensure equal pay). Top earners are doing better. But the average has seen stagnant wages while major costs (such as homes) have been going up faster.
So a 25 year old, today, doing the same job as their 25 year old parent/grand parent in 1980 is worse off at the same point in their career. This doesn't bode well when people like my parents and grandparents were relatively easily and affordably able to acquire homes and actually start building wealth, while the current generation of young workers are unable to build wealth.
It's not about a comparison between the youth and the now older workforce (which would be a moronic comparison). It's about comparing the youth to what the older workforce had 40 years ago. Or even 30.
So a 25 year old, today, doing the same job as their 25 year old parent/grand parent in 1980 is worse off at the same point in their career. This doesn't bode well when people like my parents and grandparents were relatively easily and affordably able to acquire homes and actually start building wealth, while the current generation of young workers are unable to build wealth.
It's not about a comparison between the youth and the now older workforce (which would be a moronic comparison). It's about comparing the youth to what the older workforce had 40 years ago. Or even 30.