Touted as the most “entitled generation”, millennials are often seen as lazy or unmotivated in the work space. According to data released by the Luxembourg Income Study Database, millennials across developed countries are worse off than nearly every generation before them due to rising property prices, lower income or unemployment and staggering debts.
The disparity between generations is growing at an alarming rate, with some experts warning this gap may have serious repercussions. We’re already seeing more and more millennials choosing to push back child-raising until later in life or deciding not to participate in parenthood at all. Although touted as “selfish”, many millennials don’t feel like they have a choice. Children and child-care are expenses just outside of reach, and although some millennials are choosing not to have children for reasons other than cost, a larger majority has an interest, but not the financial stability. Perhaps this rational response to undertaking a life-changing and costly endeavor makes millennials one of the best-informed generations, much to the chagrin of the wanna-be grandparents.
This trend isn’t just happening in the US, it’s being seen in developed countries throughout the world. With other generations still earning a majority of the wealth, it leaves less on the plate for millennials. While disposable income for millennials is in the negative figures for many countries, it’s growing in leaps and bounds for older generations.
Want to check out how your income compares to other generations? Try this cool income comparison tool.
Image Source: Guardian
