Their pay has suffered by far the biggest squeeze of any age group since the 2008 crash, according to a study by the Resolution Foundation. As young workers in their 20s during the financial crisis, millennials were by far the worst affected as salaries failed to keep up with inflation. The thinktank said there were signs that this pay blight had left long-lasting “scarring” effects on their earnings. “It is set to strengthen in early 2019 towards 1.5%, as inflation eases and nominal pay growth remains above 3%. This would represent the strongest inflation-adjusted pay growth since the EU referendum, though still well below the pre-crisis average of 2.1%,” the report says.

Source: The Guardian February 03, 2019 09:00 UTC