Chart of the Day: Millennials Really Have Taken It On the Chin

Here’s another random chart. It was motivated by a column I happened to read in a free copy of the New Statesman that I picked up today. The numbers are ordinary income figures from the Census Bureau:

So in case you’ve been wondering, millennials really do have it hard. Their income has grown the slowest of any age group since 1974. Pick another starting point and you get pretty much the same thing. If you’re careful with your starting point, you might produce a chart where they’re only second worst. If you’re really careful with your starting point, you might even produce a chart where they’re only third worst.

Basically, though, they’re worse off than pretty much every other generation. And this doesn’t even count the higher cost of both housing and education¹ since 1974, which obviously affects young adults more than other age groups.

Anyway, they’re pretty screwed no matter how you look at things. Those of us who are older and did better, didn’t do better because we’re smarter or harder working. We were just born in a luckier year.

¹Higher than inflation, that is.

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2020 demands.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate

We have a new comment system! We are now using Coral, from Vox Media, for comments on all new articles. We'd love your feedback.