Young People Feel As Poor As Ever

4:11 pm, February 9th | by Hillary Reinsberg

The good news for 20-somethings is that they’re right. The bad news is what they’re right about: that they can’t find jobs. And if they can, they’re under-earning.

A report from the Pew Research Center was released today — with some positively icky omens for the millenial crowd. How bad is it? As bad as it’s been since World War II. It’s the 50′s again! We’re all going to have to be silent housewives and we’ll all watch I Love Lucy!

Not quite, maybe. But it’s true — only 54.3 percent of the 18-24 category is employed right now, which is the lowest rate since 1948, when the government started collecting data on this. So, basically, it’s the lowest in recorded history. Yikes. People in that category are also making 6 percent less than they did in 2008.

What to do?! Try appealing for some sympathy from your grandparents, perhaps. The 65 and up crowd seems to be doing well. The gap between the young and the old, financially, is at its widest ever. And that gap has grown significantly over the past 8 years. Only 33 percent of the youngin’s feel “good” or “excellent” about their financial situation, compared with 54 percent of seniors.

Go on, let Grandma and Grandpa take you to dinner.

[AP]

TAGS: millenials | millenials jobs | pew research on jobs