When people ask me why I'm worried about the impact of the COVID-19 recession on millennials (who have everything so easy, right??), I start by pointing them to this basic fact: https://twitter.com/graykimbrough/status/1177226685206466560

After a decade of economic growth, American millennials are more educated than any previous generation, yet living with parents at levels unlike anything for young adults since before WWII. https://twitter.com/graykimbrough/status/1170008633301708802?s=20

Millennials have missed out on picking up some of the gains after the Great Recession in part because they have not switched to new jobs as much as previous generations at the same age.

To put it another way, millennials are NOT the job-hopping generation.

Most age groups have only returned to pre-Great Recession employment levels in the last year or two.

The Great Recession hit was larger for younger working-age adults; employment as a percentage of population (EPOP) for 25-34 year olds dropped by 6 percentage points.