Gen Y earning less than their parents

December 2, 2013

Gen Y’s “financial frustrations” come from entering the workforce at a time when the economy is putting them “on track to be worse off than their parents,” reveals a study by University of Waterloo Assistant Professor Markus Moos. Moos examined how earnings for young adults in Montreal and Vancouver changed from 1981 to 2006, accounting for any socio-economic changes such as increased levels of PSE participation. Moos found that young adults are making less than they did 25 years ago. Moos’ results provide further evidence against the commonly-held theory that Millennials are “spoiled, coddled and otherwise not as good as the generations that came before them,” suggests Globe and Mail columnist Rob Carrick. Carrick does point out that some good news within Moos’ report is that Millennials with PSE will still have an advantage over those without it. Globe and Mail