Washington Post - Over the past four decades, young American workers saw their average incomes decline by 5.5 percent after adjusting for inflation, according to new figures published Wednesday by the U.S. Census Bureau. In 1975, workers aged 25 to 34 had a median personal income of $37,000 in modern dollar terms. In 2016, that number was down to $35,000.
Earnings have declined despite the fact that today's young people are better educated than 40 years ago. Thirty-seven percent of young people had a bachelor's degree last year, compared to 22.8 percent in 1975.
In part, experts say, the decline in average incomes results from new impediments to financial success that confront millennials, but that older Americans did not have to overcome. A more unequal economy presents fewer opportunities for younger workers. Young people today must compete with a well educated labor force, while young people in the past often had an advantage over older workers who were less qualified.