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Millennials
The share of middle-class people is falling across developed nations, from 64 percent of households in the mid-1980s to 61 percent in the mid-2010s.
- Only 6 of 10 millennials in wealthier countries earn enough to be considered middle class.
- In the U.S., a single worker must earn roughly $23,000 to $62,000 to be considered middle class.
- Half of all middle-income households in wealthier countries now struggle to make ends meet.
The global middle class is witnessing a historic hollowing out, with younger generations struggling to find their financial foothold in many wealthier countries around the world, including the U.S. Only 6 of 10 millennials earn enough to be considered middle class, compared with 7 of 10 baby boomers at the same age, according to a new report from the Organization for Economic Cooperation and Development.
The share of middle-class citizens is falling across developed nations, slipping from 64 percent of global households in the mid-1980s to 61 percent in the mid-2010s, the OECD said. Younger generations are bearing the brunt of the middle-class decline, with each subsequent […]
This is understandably dismaying. And having to watch this happen is sad. That said, this challenge is shaping millennial minds and communities in ways that I believe is positive and powerful – beneficial to today’s world. Many of the millennials I know increasingly live in shared spaces. They cook together, break bread together. They share time and energy in local and family organic gardens. They’re very creative and many are sharing, giving birth to group of hive small businesses. Of course, there is exhaustion, some fear and ‘not knowing’ what they face going forward. There’s a new movement called birth strike, which has gaining momentum. It’s comprised of millennial women who have decided not to have children and some are taking about mothering children who need it. Many, due to financial circumstances, are not into ‘must have’ impulse buys. This last year was the first year ever in America when more used clothing was sold/exchanged than new clothing. Across the board, thousands of jobs are being lost…and I can’t help thinking that phenomena is pushing us toward systemic change on a national (and global) level.
As Vonnegut once wrote.. ‘pull your garters and hang on to your hats. It’s going to be a bumpy ride.’ It already is and everyday I find myself in awe of the great and growing number of dedicated humans who are coming together to shape the collective mind and energy.
This will depend on if the Democrats try to shove another alt-Republican like HRC down our throats. If they do expect Millennials not to show up. They see through the establishment neo-liberal cavers and sellouts.
Thanks Sam and g f I agree with both of you and yes there are many millennials who are not glued to their screens. I’ve met some wonderfully smart and wise advanced souls who will make a better world if they can overcome our cultural madness. Many are entangled in our soul sucking financial system which is heading towards collapse. Ah, the curse/blessings of these Trumpian times.