Academic

GENERATION Y?S EMPTY PIGGY BANK: ?As fund managers try to woo younger workers, why are few paying a?

By Glenn Reynolds

GENERATION Y’S EMPTY PIGGY BANK: “As fund managers try to woo younger workers, why are few paying attention? They’re overwhelmed by big debts and high unemployment. . . . Already saddled with student debts averaging almost $20,000, according to New York-based think tank Demos, Gen Y is in a tougher financial position than previous generations. The average salary for 25- to 34-year-olds, for instance, fell 19 percent over the last 30 years, after adjusting for inflation, to $35,100, Demos estimates. That’s if they can get jobs.” This is why I don’t see a housing recovery any time soon. The people who should be supplying the next wave of demand, can’t. (Via NewsAlert).

Full post as published by Instapundit.com on July 17, 2010 (boomark / email).