Uniparty 'Bidenomics': Gen Z making less money than millennials did 10 years ago.

It is no accident...

QZ.com:

Gen Z is making less than millennials made a decade ago at the same age.

As of the fourth quarter of 2023, Gen Zs aged 22 to 24 were making an average of $45,493. At that same age 10 years ago, adjusted for inflation, millennials were making $51,825, according to a recent study by TransUnion. And the debt-to-income ratio is 4 percentage points higher for Gen Z than millennials, coming in at 16.05% compared with 11.76%, the credit bureau found.

But it gets even worse. New America think-tank reports via CNBC:

Millennials are facing a shortfall compared to other generations when it comes to their paychecks.

Overall, millennials earn 20% less than baby boomers did at the same stage of life, according to “The Emerging Millennial Wealth Gap,” a recent report from the nonprofit, nonpartisan think tank New America. Specifically, median earnings for those 18 to 34 are lower than they were in the 1980s, a disparity that was first noted in a 2017 report from the non-profit Young Invincibles. And the flow of today’s paychecks is less predictable due, in part, to the effects of the Great Recession and a rise in contract and freelance positions that may be less consistent in hours and pay.

That’s in spite of overall higher education levels. Nearly 40% of millennials 25 to 37 have at least a bachelor’s degree, compared to just a quarter of baby boomers and 30% of Gen X when they were the same age, Pew Research Center found.

UK Daily Mail:

Patrick Bet-David: Middle America is being destroyed. This video is breathtaking:

UPDATE - The Wall Street Journal shows even more troubling inflation numbers: