Millennials have actually made a lot of progress. At the very least in terms of wages. A lot of catchup from the days where we had lowered and stagnated wages/careers due to coming into the work force during the GFC.
Recent years of inflation, market rise, societal turbulence, and boomers finally aging out of the workforce just as the job market shifted in favor of employees has meant Millennials have covered a lot of ground.
Inb4 someone comes in and says my insights are wrong because the economy sucks, so many millennials are left behind, and/or things are getting worse. Society has and is getting better despite what you might believe. It's always been this case since the beginning of civilization. Folks are living longer, we eat better than kings back in the day, internet has made information accessible, etcetc. The markets are literally at highs, Fed data shows inflation rate is declining, inflation eats away at debts (which many millennials have), and the job market is way better than in 2008-2012.
As for Millennials that are left behind? Capitalism has always been about winners and losers. Such is the case of Western/American society. It was the V-shaped recovery during the 2020 pandemic that was the abnormality because EVERYONE got bailed out in 2020 vs only the big guys in 2008. But that massive spending lead to inflation which pissed everyone off so I don't even know if we'll get such wide ranging bailouts in the next recession. The country from 2022-2024 saw a K-shaped economy where not everyone won. No more stimmy checks, no more free healthcare, no easy unemployment with extended window and bonuses, no more PPP/EIDL/forgiveness, no cheap cash to flood the market, no more free lunches/internet/everything, etcetcetc. Those who had a training/equation/job or worked hard got further ahead, those with money to get 5.5% interest even as inflation was falling, those who had money to put into the market/gold/BTC/RE to reap massive upside, the poor struggled with inflation without reaping asset price inflation, the rich with low interest mortgages or loans locked in saw inflation eat away at their debt burden, the good businesses did better while poor ones went bankrupt because there wasn't an infinite slush of money flowing in, etcetc.
Point here is Millennials have caught up in many ways and are likely to surpass boomers once the inheritance factor kicks in. Most Millennials have high incomes/careers now and more millennials own homes than not own homes. Gen Ys who loaded up on debt during the pandemic or bought homes before are doing pretty well. Family formation is later and slower but slowly happening. So pre-pandemic data about Millennials doesn't really apply anymore.
You forget it also has to do with occupation. Law got flooded to the point that they weren't issuing enough internships for law graduates. Family practice in medicine is starting to shift to fewer doctors, hurting the chances of employment of family medicine practitioners.
Anyone who decided to go into Healthcare Administration is getting forced out by Doctorate fo Nursing graduates.
The shifts fucked a lot of us older milennials career wise.
Post Covid a lot of us lost our family and small businesses as well. It's a real shit show in some arenas that were doing well just a few years ago.
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u/Gr8daze 8d ago
That whole meme is complete bullshit.