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The Economy Is Crushing Millennials, Not The Other Way Around09:04
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Avocado toast. (Marco Verch/flickr)MoreCloseclosemore
Avocado toast. (Marco Verch/flickr)

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.

Guest

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

This segment aired on December 6, 2018.

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