The millennial wage gap is a real problem for those ages 25 – 40. Not only do they make 20% less than Baby Boomers at their age, but they also have fewer consistent paychecks because of the Recession of 2007 and now the pandemic. With more people freelancing, regular paychecks feel like a thing of the past for most millennials.
The largest issue this causes for millennials is a delay in homeownership, aka achieving the American Dream. With lower wages, higher debt, and less consistent paychecks, only 42 percent of millennials own a home by age 30 versus 48 percent of Gen Xers and 51 percent of Baby Boomers.
Continue reading “Understanding the Millennial Wage Gap”
