“Millennials got bodied in the downturn,” Annie Lowrey wrote in the Atlantic. They “graduated into the worst job market in eighty years. That did not just mean a few years of high unemployment, or a couple of years living in their parents’ basements. It meant a full decade of lost wages.” The extent of the effects of this timing is only now coming into focus: A 2018 report issued by the Federal Reserve, for example, found that “millennials are less well off than members of earlier generations when they were young, with lower earnings, fewer assets, and less wealth.”
