We all agree advancing in life is like climbing a ladder. Problem is, the rungs on that ladder are getting farther and farther apart all the time.
Millennials make 20% less money than baby boomers did for the same work, at the same age. They’ll also have to save twice as much for retirement as the previous generation. On top of it all, the cost of a college education has been rising steadily for decades and is now out of reach for many.
And now, that college education doesn’t even guarantee a job for a majority of college students — unemployment and underemployment among grads have been rising steadily since about 2001. Underemployment rallied somewhat in 2015, but it still stood at 44.6% among graduates.
Not to get too mushy, but all of these factors combined paint a clear picture: Work life in the US for millennials is of obviously lower quality than it was for their parents’ generation, and “getting ahead” is becoming harder.