The Economy Is Crushing Millennials, Not The Other Way Around

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.

Gaby Del Valle, reporter at 'The Goods' at Vox.com. She tweets @gabydvj.