from the St Louis Fed this post authored by Lowell R. Ricketts, Data Scientist, Institute for Economic Equity; and Ana Hernflndez Kent, Senior Researcher, Institute for Economic Equity
Older Millennials Experience Pandemic Hardships Unequally econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.
Disparities By Race, Ethnicity And Education Underlie Millennials Comeback In Wealth
from the St Louis Fed this post authored by Ana Hernflndez Kent, Senior Researcher, Institute for Economic Equity; and Lowell R. Ricketts, Data Scientist, Institute for Economic Equity
In the first post of this series, we found that older millennials (those born in the 1980s) had made significant gains in family wealth. They were only 11% below wealth expectations as of 2019, versus 40% below expectations in 2016. By “wealth expectations, we mean a predicted level based on the wealth held by families in that generation and earlier generations at similar ages.
Millennials Are Catching Up In Terms Of Generational Wealth
from the St Louis Fed this post authored by Ana Hernflndez Kent, Senior Researcher, Institute for Economic Equity; and Lowell R. Ricketts, Data Scientist, Institute for Economic Equity
In 2018, we published an essay in our Demographics of Wealth series in which we explored the impact of the Great Recession on young families. Our results showed that families headed by those born in the 1980s[ 1] (referred to as “older millennials, the youngest group we analyzed at the time) were about 34% below wealth expectations. (By “wealth expectations, we mean a predicted level based on the wealth held by families in that generation and earlier generations at similar ages.) This led us to ponder whether older millennials would become part of an economically “lost generation.