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

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    (Original post by Maker)
    Boomers usually started work at 16 or 18 and mostly lived at home and did not have any university debts. If Millenials had done the same, they would probably be in the same position as boomers.
    Yet it's impossible to get a job even with a degree, never mind without one.
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    (Original post by Jammy Duel)
    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

    This data shows increased wages for the average worker - not the average millenial, many of whom are unemployed, and does not even necessarily imply an increase in real wages for the average employed millenial.

    It also doesn't take into account the much larger debts millenials now face, and how much more difficult it is to get a mortgage, or how much less interest there is on savings - making savings translate less into savings.
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    In 1960 the global population was 3 billion, today it is over 7 billion...

    Is this not just supply and demand?
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    (Original post by Kernel_Coder)
    In 1960 the global population was 3 billion, today it is over 7 billion...

    Is this not just supply and demand?
    No.

    For starters, most of that growth has been in the third world. The UK's population has increased from 50 million in 1950 to over 60 million today. Most of that growth is even in the older age groups; the number of 18 year olds has been in decline or stagnation for quite a few years.
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    I simply refuse to accept the claims being made, with the exception of house prices which are inflated due to an absurdly high population we have experienced deflation in real terms which is why even the poorest of people in the West are able to doss around with smartphones, mobile internet and abuse drugs rather than working 14 hour days down mine shafts.

    I think this is a good thing, I do not actually want to bring back the bad old days, but I think there is a significant problem with people thinking their lives are far harder than they truly are.
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    (Original post by l'etranger)
    I simply refuse to accept the claims being made, with the exception of house prices which are inflated due to an absurdly high population we have experienced deflation in real terms which is why even the poorest of people in the West are able to doss around with smartphones, mobile internet and abuse drugs rather than working 14 hour days down mine shafts.

    I think this is a good thing, I do not actually want to bring back the bad old days, but I think there is a significant problem with people thinking their lives are far harder than they truly are.
    There is some truth to that, the debate about whether a generation has it worse than another depends greately on one's point of view...

    The 'Housing Crisis' is also essentially non-existent outside of London/The South East. One of the many reasons I will never go back there. Seperating a sense of entitlement from the facts is not easy with the media.
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    (Original post by Kernel_Coder)
    There is some truth to that, the debate about whether a generation has it worse than another depends greately on one's point of view...

    The 'Housing Crisis' is also essentially non-existent outside of London/The South East. One of the many reasons I will never go back there. Seperating a sense of entitlement from the facts is not easy with the media.
    A decent 3 bed house aka a family home starts at 350k where I live in the midlands


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