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NEW: Most millennials are facing the first economic crisis of their adult lives. The data, and the personal experiences so far, suggest that they are very unprepared. https://www.nytimes.com/2020/04/06/business/millennials-economic-crisis-virus.html
-Millennials have fewer assets and savings than earlier generations of young adults did when they were going into previous crises.
-Millennials are the more likely than older Americans to have the part-time and gig work jobs that are the first ones cut in a crisis.
-Millennials are the more likely than older Americans to have the part-time and gig work jobs that are the first ones cut in a crisis.
When Gen X was going into the financial crisis a decade ago, at roughly the same age, they had twice as much in total assets.
Today, going into this crisis, Gen X has 4x the total assets of millennials, on average, and 2x the savings.
Today, going into this crisis, Gen X has 4x the total assets of millennials, on average, and 2x the savings.
Andrew Lawson, a 29-year old father, has had to rely on the local food bank after the work on DoorDash totally dried up.
What struck me most in reporting this was how quickly young adults have found themselves in desperate situations. https://www.nytimes.com/2020/04/06/business/millennials-economic-crisis-virus.html
What struck me most in reporting this was how quickly young adults have found themselves in desperate situations. https://www.nytimes.com/2020/04/06/business/millennials-economic-crisis-virus.html
