1. The number of twentysomethings with full-time jobs has gone down.
According to a July Gallup poll, 43.6% of Americans ages 18 to 29 have a full-time job.
2. The cost of a college degree is higher than ever.
When compared with the price of consumer goods, the cost of a four-year college degree has increased sharply, so it’s more than just inflation.
3. 41% of college graduates say their job doesn’t even require a college degree.
Four out of 10 college grads say they don’t need a degree for the job they’re doing, according to an August Gallup poll. Overall, 57% of all U.S. workers say their job doesn’t require a college degree.
4. Student loan debt has nearly quadrupled in a decade.
Ten years ago, outstanding student loan debt totaled $240 billion. Today, it’s $1 trillion.
5. 44% of college graduates are underemployed.
The Federal Reserve Bank of New York reported in June that just under half of all recent college graduates were working in jobs that did not require their degree.
6. The number of twentysomethings still living with their parents has gone up.
Factors that have driven more young people to live at home include declining employment, rising college enrollment, and a declining marriage rate, according to Pew.
7. The median household income has decreased in all but nine states.
Unless you live in Washington, D.C., North Dakota, Wyoming, Louisiana, South Dakota, West Virginia, Montana, Nebraska, Maryland, or Iowa, your state’s median household income has gone down.
8. Many twentysomethings have postponed major life decisions because of the economy.
According to Pew, young people are having a hard time reaching basic financial milestones, and 2 out of 10 said they postponed marriage or parenthood because of the economy.
9. The number of college graduates who work minimum-wage jobs has skyrocketed since the recession began.
There were 284,000 college graduates who worked minimum-wage jobs in 2012, according to The Wall Street Journal.
10. Half don’t think Social Security will exist by the time they retire.
Not only do 50% of 18- to 29-year-olds not think Social Security will exist by the time they’re 67, 52% say they don’t save for their retirement now because they’re too concerned with their current financial situation, according to a St. Norbert College Strategic Research Institute study.
11. The percentage of parents who think their children’s standard of living will be better than theirs has gone down.
Parents are still more likely to say they believe their children’s standard of living will be better than theirs, but they’re much more pessimistic.
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