Millennials are on shaky ground, struggling to gain the same financial security afforded to their parents, new data analysis suggests. When baby boomers were young adults, their net worth was double that of today’s young people, who earn $10,000 less than their counterparts did in 1989, according to findings from advocacy group Young Invincibles. Millennials who entered the workforce in the wake of the Great Recession still feel the sting. The report suggested policies that would strengthen the social safety net for young adults, including Earned Income Tax Credit and housing policy reform. “President-elect Trump and the new congress is going to have to demonstrate their commitment to expanding economy for young people,” Allison said.

Source: Los Angeles Times January 13, 2017 22:05 UTC