Younger Generation Not Making Money Like Parents Did
By Ali Balgooyen, Multi Media Video Journalist - bio | email
A new study from the Urban Institute found that a generation of younger Americans are not make has much money as once before.
Ryann Comer is 23 and works for a wine distribution company. Even though she has a job, she is currently living at home. She says her parents already owned their own home at her age, and that the job market now is much harder than it was in the past.
23-year-old Lauren Daniels is also living at home. She says higher competition in the job market has made it harder to make a living.
Ohio Northern University Assistant Economic Professor, David McClough says the more wants become needs, the harder it will be for a younger generation to gain a living.
McClough says to solve the problem, consumption and income must stabilize.
Mcclough says the economy has been growing, but that the upper classy has mainly benefited from the growth.