Study: Millennials are poor and work-obsessed

Study: Millennials are poor and work-obsessed
Thoroughly modern Millennial man, listening to his Wu-Tan. (Image: RNC video)

[Ed. – And this makes them different from previous generations how, exactly?  At their age, I too was poor and work-obsessed.  As were my parents, and theirs, and their parents’ parents before them.  Millennials have some legitimate gripes about the way our frenzy for regulation has made them increasingly unemployable, while at the same time making everything more expensive for everyone.  That needs to be addressed — by rolling back regulation.  But it is no great tragedy to have to work hard and not have as much fun as you’d like when you’re under 35.  It’s how life has worked for almost everyone, for a very, very long time.]

Millennials tend to get a bad rap for being entitled and self-absorbed, but the reality is that many members of the youngest working generation don’t expect fantastic jobs to just land in their laps. Rather, they’re pushing themselves to succeed at the office, and have work matters on the brain more often than not.

Millennials are so fixated on work, in fact, that it may be messing with their quality of life. According to a study by wellness app Happify, millennials are placing a ton of significance on their careers, and it’s making them unhappy as a result. …

There’s a lot of pressure on millennials to rapidly advance their careers, but a lot of that boils down to money. According to the U.S. Bureau of Labor Statistics, the average worker aged 20 to 24 earns $32,500 a year, while the average worker aged 25 to 34 makes $50,232 annually. …

[S]ince the average monthly student loan payment for borrowers aged 20 to 30 is $351, [the] after-tax figure gets slashed by more than 10% almost automatically. Factor in housing payments (since not all millennials live at home), transportation, healthcare, food, utilities, clothing, and whatever other basic necessities are needed to function, and it’s no wonder millennials not only aren’t saving, but are constantly pushing themselves to earn more.

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