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The Millennial Economy- Should we blame the Baby Boomers?

As a recent college graduate, I am exasperated at my job prospects… but even more so tired of being looked at as the problem, so I…

As a recent college graduate, I am exasperated at my job prospects… but even more so tired of being looked at as the problem, so I penned my frustrations

First things first…I am a millennial & I approve this message


Debunking the Myth:”We are not lazy!”

It seems that the older generation, “the Baby Boomers,” are consistently breathing down the younger generations, “the Millennials,” necks. With phrases such as “Back in my day, I worked and my wife took care of the children,” or “I had a job right out of college, why don’t you?”, or my personal favorite: “You are too young to be complaining.”

But we (millennials) are not too young to be complaining. We are working while in school, there is no time to wait until we are out of school. There are many more people attending college and by the time we graduate, the jobs in our fields of study are already taken. We have to work minimum wage through school just to afford textbooks and to feed ourselves.

Many students now attending college start off with no money. They might be first generation college attendees or their parents simply cannot afford their schooling. They have to work part time jobs and attend classes to feed themselves. They have to take out either government or private loans through a bank. Both leave them in hundreds of thousands in debt. The average college debt is about $30,000; the average income for a recent new grad is only about $44,000.

You can forget about being able to receive enough financial aid to have enough left over where you will not need to work a part time job. Or, do, as most Baby Boomers did; work a summer job and afford a whole year of college from your earnings. . Tuition was much lower in the 50s and 60s and many states funded higher education. In today’s society and economy, that is not the case.

Additionally, because Millennials are starting off life fresh out of college already in debt and having no job prospects, they cannot afford to give back to the economy. “The truth is that lower wages and poverty can account for so many of the things that older generations find so mystifying about millennials.” The Daily Beast reported.


Sorry, but we just adapted to the times.

Many recent grads live in poverty. In 2008, Americans ages 18 to 26 whose total household income was near or below the federal poverty level, 47 % were or had been enrolled in college. 11 % of them had earned a degree. Millennials are not buying cars, they will ride bikes or take public transportation. They are not buying houses, but renting instead. They are not saving for the future or thinking long term when they do not have a job that supports it.

It is not the latest trends that are keeping Millennials from pursuing job prospects, as this The Daily Dot article suggest. Millennials have almost simply given in to reality. We are not handed everything, and certainly do not feel too privileged to work. Especially with statistics that say we are over $30,000 in debt due to college, or that 30 % of higher education students today are the first in their family to attend college, while 24 %—4.5 million—are both first-generation and low-income.

There is a lot of finger-pointing going on. The Baby Boomers will blame the Millennials for the economy and the Millennials will blame the Baby Boomers for their poverty. One thing is agreed upon, there needs to be a solution. If baby boomers would take responsibility for what the economy has become, they could stop blaming the people it has affected, and maybe a solution could be found.

(M-Lifestyle does not claim ownership of any images used, unless otherwise specified.)


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