It's not avocado toast that's holding back millennials.
They got shafted — merely for having the bad luck to be entering the labor market around the time of the great recession.
At least, that's the finding of a recent paper from the Federal Reserve, which found that millennials spend money on the same kind of stuff their parents did — they just don't earn as much.
The Fed found that compared to previous generations, millennials — or those born between 1981 and 1997 — have lower average salaries, more student debt, and fewer assets than those before them.
This article was originally published on December 06, 2018.
This segment aired on December 6, 2018.
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