Pity the millennials. Of all living generations, people born between 1980 and 1994 have faced exceptional economic uncertainty.“Many millennials — if not most — entered the job market during one of these recent recessions, struggling to find work and build a career in an incredibly competitive labour market,” says UBS investment strategist Justin Waring in a note.
Being unable to work immediately after graduation can be devastating, said Waring. Many are unable to qualify for unemployment benefits because they lack job history, then find it harder to get a job later because of the gaps in their employment. The research shows that graduating during a time of high unemployment increases the odds of longer spells of unemployment later in life.The best thing millennials have going for them is time, he said.
Waring offers three ways millennials and Gen Z can weather the recession. Invest in your human capital through education and skills development. College graduates can expect to earn on average $1 million more than those with less education, equal to about a 15% rate of return. Save all you can, and make the most of those savings by budgeting and investing.
Where do you get 3 recessions for boomers? I count at least 5 and it's only the last 2 there have been massive bailouts.
Flagged for trolling.
This should be good ...
yeah the last generation to experience real wage growth during their peak earning years sure has it rough because they didn't set stop losses
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