Young adult households are earning more than most older Americans did at the same age
The median adjusted income in a household headed by a Millennial was $69,000 in 2017. The previous peak for households headed by people ages 22 to 37 was in 2000.
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The median adjusted income in a household headed by a Millennial was $69,000 in 2017. The previous peak for households headed by people ages 22 to 37 was in 2000.
Generation Xers were hit particularly hard in the recession. Yet Gen Xers are the only generation of households to recover the wealth they lost in the downturn.
As of 2017, 56 million Millennials were working or looking for work, more than the 53 million Generation Xers and 41 million Baby Boomers in the labor force.
Millennials trail Baby Boomers and Generation Xers in the number of households they head. But Millennial-run households represent the largest group in some key categories, such as the number in poverty or the number headed by a single mother.
Millennial workers are just as likely to stick with their employers as their older counterparts in Generation X were when they were young adults.
Through both recession and recovery, the share of young adults living in their parents’ home continues to rise. As of 2016, 15% of 25- to 35-year-old Millennials were living in their parents’ home.
Millennials are the nation’s most educated generation in history in terms of finishing college. But despite the stereotype that today’s recent college graduates are largely underemployed, the data show that this generation of college grads earns more than ones that came before it.
Though the nation is officially four years into “economic recovery,” a new Pew Research Center analysis of recently released Census data suggests that most Millennials are still not setting out on their own.
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