June 8, 2015
In all, young people bore the brunt of the economic downturn—as young workers often do—but Millennials are taking a longer time to recover than previous generations did after similar events. More people are retiring later than expected, staying in the workforce longer because of the recession, and employers are more reluctant to hire workers with a shorter employment history and fewer skills. When they do hire them, it’s at a lower starting salary than those paid in previous generations. Some people—young people without families to pay for—have part-time second jobs just to supplement their flagging salaries.