Reply to What is considered a high income for millenials? (18-34)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Under-earning because jobs that used to require bachelor's degrees now need a masters and a bunch of certificates. Wages have not increased with inflation, daycare is much more expensive, housing is more expensive, and there are incidentals like $200 a month cell phone plans the previous generation didn't have.[/quote]

Exactly[/quote]

The only thing that is true out of that statement is wages are stagnating. Daycare may be more expensive, but I wouldn't know because I don't have kids. Housing is only more expensive in that rents are up in many areas and its not as easy to get a mortage as it was in the era of easy credit. The whole "jobs that used to require bachelors now need a masters..." is complete garbage.[/quote]

Wages are stagnating party because of the huge worker base growth. The number of civilian employees roughly doubled in the past 50 years, but the population did not. The boomers, increase of women entering the work force, immigration, and etc, have all resulted in significantly more workers competing for jobs. The US economic engine has been able to absorb this additional worker base while keeping unemployment at a healthy low level.

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