I think the script has flipped for Gen Y, at least collectively. It’s possible they may be the richest generation in history, depending on the wealth transfer…
Im suuuuppppeeerrr skeptical about fortune as a source but I can’t read that as I don’t have a subscription. I have seen the economy and I would not have wanted to start later. If anything my do over thing would have been to not to go to school so much and start earning sooner.
I’ve seen a few other outlets talking about it too, not just Fortune. Yeah, again, it would be the aggregate and not everyone’s experience. And it’s hard to calculate the harm of the formative years for a given age range - if you tried to enter the market just as 2008/2009 crash came…that’d be something you’d not soon forget, unless you had a cushy home life you could fall back on.
I remember trying to find just a summer job and work-study job in the early 90s “jobless recovery” - and there was just a real dearth of any job, even the most menial of jobs [1]- and that made an impression, maybe even more so than the later layoffs I had to endure. And 2008/2009 was worse.
[1] I ended up working for Manpower at various shit jobs; the longest of which was at a Ross warehouse. The next longest stint was helping to round out housekeeping at really cruddy hotels. I did put in an application at a McD’s and several other fast-food places, but didn’t get hired. The job market blew really hard for a few years there.
Yeah work study was scarce but honestly folks I know who got it got paid wereas in the new millenium feels like a lot of that became unpaid. Late nineties was the time I wish I took more advantage of. Fast food is a good example though. In high school it was the job no one wanted but everyone could get. minimum wage to start but if you showed up regularly, ontime and sober you generally got at least a quarter an hour more and then regular nickle raises. min wage was 4 bucks though so its not as slight as it sounds. You go to a place and ask for an application then fill it out and it was 100% getting a job in the 80’s with fast food. Its actually from millenial friends that I learned that was not a thing for them. I was working in the late nineties based on my skills of knowing how to navigate windows and search the internet and they hired folks who could not really do that.
I think the script has flipped for Gen Y, at least collectively. It’s possible they may be the richest generation in history, depending on the wealth transfer…
https://fortune.com/2024/10/21/millennials-outperforming-baby-boomers-gen-x-assets-earnings/
Im suuuuppppeeerrr skeptical about fortune as a source but I can’t read that as I don’t have a subscription. I have seen the economy and I would not have wanted to start later. If anything my do over thing would have been to not to go to school so much and start earning sooner.
I’ve seen a few other outlets talking about it too, not just Fortune. Yeah, again, it would be the aggregate and not everyone’s experience. And it’s hard to calculate the harm of the formative years for a given age range - if you tried to enter the market just as 2008/2009 crash came…that’d be something you’d not soon forget, unless you had a cushy home life you could fall back on.
I remember trying to find just a summer job and work-study job in the early 90s “jobless recovery” - and there was just a real dearth of any job, even the most menial of jobs [1]- and that made an impression, maybe even more so than the later layoffs I had to endure. And 2008/2009 was worse.
[1] I ended up working for Manpower at various shit jobs; the longest of which was at a Ross warehouse. The next longest stint was helping to round out housekeeping at really cruddy hotels. I did put in an application at a McD’s and several other fast-food places, but didn’t get hired. The job market blew really hard for a few years there.
Yeah work study was scarce but honestly folks I know who got it got paid wereas in the new millenium feels like a lot of that became unpaid. Late nineties was the time I wish I took more advantage of. Fast food is a good example though. In high school it was the job no one wanted but everyone could get. minimum wage to start but if you showed up regularly, ontime and sober you generally got at least a quarter an hour more and then regular nickle raises. min wage was 4 bucks though so its not as slight as it sounds. You go to a place and ask for an application then fill it out and it was 100% getting a job in the 80’s with fast food. Its actually from millenial friends that I learned that was not a thing for them. I was working in the late nineties based on my skills of knowing how to navigate windows and search the internet and they hired folks who could not really do that.