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Millennials earn 20% less than Boomers did at same stage of life Watch

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    Liberals love to complain about stuff like this but they don't actually have a solution that doesn't involve forcing companies to pay more and reduce profits, or building millions of council houses.
    The fact is you can still earn more than these 'boomers' if you work hard enough and get into the right jobs. The opportunities are better now than ever before, with new industries like data science and software engineering opening up new lucrative career possibilities. As well as this, everyone has the chance to go to university and improve their skillset. Don't kid yourself- things are much better for us than they were for the baby boomers.
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    (Original post by Ladbants)
    Liberals love to complain about stuff like this but they don't actually have a solution that doesn't involve forcing companies to pay more and reduce profits, or building millions of council houses.
    The fact is you can still earn more than these 'boomers' if you work hard enough and get into the right jobs. The opportunities are better now than ever before, with new industries like data science and software engineering opening up new lucrative career possibilities. As well as this, everyone has the chance to go to university and improve their skillset. Don't kid yourself- things are much better for us than they were for the baby boomers.
    Just no.


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    (Original post by richpanda)
    Incredible sense of entitlement. So because someone born in the early 90s goes to university, gets a 2.2 in sociology, they deserve a high paying job and enough for a deposit on a house?

    Just lol.
    Ikr how entitled of people to expect they could lead an adult life after finishing education, just utter madness.

    You're either really stupid or a very bad troll... then again the two go hand in hand so.
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    http://a.msn.com/00/en-gb/BBw62zU?ocid=se


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    89k in today's money to buy the average house in 1996.

    And that was after house price inflation!


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    For those who don't like clicking on dodgy-looking links, it shows you the average UK house price every year from 1963 (£3000 at the time, or £50,0000 in today's money) to 2014 (£180,000)
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    (Original post by Ladbants)
    The fact is you can still earn more than these 'boomers' if you work hard enough and get into the right jobs. The opportunities are better now than ever before, with new industries like data science and software engineering opening up new lucrative career possibilities. As well as this, everyone has the chance to go to university and improve their skillset. Don't kid yourself- things are much better for us than they were for the baby boomers.
    Specialist industries that require a specific skill set only a minority have? Excellent, that'll sort everybody out.
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    Ah, so the same lefties who encourage immigration, who want refugees in our country, suddenly wonder why house prices have gone up and job seeking has become more competitive?
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    (Original post by Retired_Messiah)
    Specialist industries that require a specific skill set only a minority have? Excellent, that'll sort everybody out.
    Well, people can learn these skill sets. And there are other jobs as well.
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    (Original post by paul514)
    Just no.


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    Are you actually trying to say that these boomers had it easier than us? The UK is a better place to live now than ever before. These boomers didn't even have the internet, computers, proper telephones, colour TV, equality laws, NHS as it is today, university education for everyone (not just the privileged), modern technology and pretty much everything we take for granted. Britain is a great place to live in and has opportunities for everyone, more than ever before.
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    (Original post by Ladbants)
    Are you actually trying to say that these boomers had it easier than us? The UK is a better place to live now than ever before. These boomers didn't even have the internet, computers, proper telephones, colour TV, equality laws, NHS as it is today, university education for everyone (not just the privileged), modern technology and pretty much everything we take for granted. Britain is a great place to live in and has opportunities for everyone, more than ever before.
    I'd trade everything I have now if I could walk into an office/plant job by simply going in and talking to the person while also earning a decent wage and being able to afford a house and to have children like the baby boomers did.

    I'd ****ing trade everything I currently have for that. Heck take away and arm and a leg if you want and I'd still trade it.
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    (Original post by Ladbants)
    Are you actually trying to say that these boomers had it easier than us? The UK is a better place to live now than ever before. These boomers didn't even have the internet, computers, proper telephones, colour TV, equality laws, NHS as it is today, university education for everyone (not just the privileged), modern technology and pretty much everything we take for granted. Britain is a great place to live in and has opportunities for everyone, more than ever before.
    Depends how you think of "easier". Sure, things are better, if you have no plans to own a house, or support a family, before you are old and grey.

    But many people value those last two things quite a bit.

    You are just saying that there is a wider variety of products out there - which is true, but the point is that the necessities are more out of reach for young people than ever before.
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    Crap job and housing market. Due to inflation we're a lot poorer today, even though we don't look it.

    In previous generations you could get good jobs without a uni degree, didn't need 3 years of paperwork, there was a demand for them. Today, too many people, too little jobs. Need a way to filter. Education has filled this gap, but done so very poorly.

    The housing market is an absolute joke.
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    "People who have been working for fewer years and started their careers in the worst economic downturn for nearly a century on average earn less than their older counterparts who started work at a younger age during a boom period did at the same age"
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    "With a median household income of $40,581, millennials earn 20 percent less than boomers did at the same stage of life "

    ...And there's your answer.


    You also have to take into consideration other factors such as most boomers not entering higher education, working sooner than millennials, etc...
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    (Original post by Jammy Duel)
    "People who have been working for fewer years and started their careers in the worst economic downturn for nearly a century on average earn less than their older counterparts who started work at a younger age during a boom period did at the same age"
    20% less. While real wages have dropped by 'only' 10% since the recession. You are also ignoring the fact that inflation decreased significantly during the recession, and remains subdued, which improves the figures a lot, since for example house prices become a little more reasonable.

    Besides, wouldn't you hope for some significant wage growth in the decades between the boomers and the millenials?
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    (Original post by Mathemagicien)
    Depends how you think of "easier". Sure, things are better, if you have no plans to own a house, or support a family, before you are old and grey.

    But many people value those last two things quite a bit.

    You are just saying that there is a wider variety of products out there - which is true, but the point is that the necessities are more out of reach for young people than ever before.
    What he said


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    (Original post by CyclePath)
    "With a median household income of $40,581, millennials earn 20 percent less than boomers did at the same stage of life "

    ...And there's your answer.
    In this case, I defend the use of the median, rather than the mean, because the mean is too swayed by outliers. If 50% of people are much worse off, but 0.1% are much, MUCH better off, I'd still say this represents a societal decline.
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    (Original post by TheExtrovertGod)
    Crap job and housing market. Due to inflation we're a lot poorer today, even though we don't look it.

    In previous generations you could get good jobs without a uni degree, didn't need 3 years of paperwork, there was a demand for them. Today, too many people, too little jobs. Need a way to filter. Education has filled this gap, but done so very poorly.

    The housing market is an absolute joke.
    A good way to look at this or a good indicator of this is to ask how many people still live with their parents above the age of 18? I'm willing to bet theres more millennials than boomers at respective ages. Also check how many could afford houses between the two as well.
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    (Original post by Mathemagicien)
    20% less. While real wages have dropped by 'only' 10% since the recession. You are also ignoring the fact that inflation decreased significantly during the recession, and remains subdued, which improves the figures a lot, since for example house prices become a little more reasonable.

    Besides, wouldn't you hope for some significant wage growth in the decades between the boomers and the millenials?
    It's worth noting real wage growth has been a lot higher in the UK than US, and that despite this all the data that I can find shows strong real wage growth over the last few decades, despite the 5 years of decline


 
 
 
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