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It's this cohort that bore the true brunt of the financial crisis , which left lingering effects a dozen years later when the coronavirus recession rolled around. From the very beginning of their careers, they entered a dismal labor market that set them up for a long recovery.
That's all to say, wages have remained stagnant since Wages haven't kept up with soaring living costs for everything from healthcare to housing, creating a financial imbalance that's been difficult for the year-old millennial to rectify. But the oldest millennials are catching up. A St. One might first look to student loans as the source of this debt. Many millennials are shouldering their share of this burden. The typical year-old millennial entered college in , and graduated in under a typical four-year plan.
But that's not as much as the typical youngest millennial, who turns 25 this year. As housing prices climbed over the years, millennials began renting longer and buying later. While some have finally been able to afford a house amid low interest rates during the pandemic, the demand has exacerbated a historic housing shortage that has pushed homeownership further out of reach for other millennials.
The homeowning life stage means that most year-old millennials have a mortgage. It aligns with previous findings from an Insider and Morning Consult survey, which found that it's not just student-loan debt millennials are swimming in.
A mortgage is typically their biggest debt, the survey found. As millennials delay marriage and homeownership, they've delayed childbearing until they feel more financially sound. More women are having kids at a later age than ever. As Alisha Tillery wrote for Shondaland , being the oldest millennial "is to be an outlier of sorts, to really have no generation to identify with at all, yet be perfectly okay with not fitting into one box or the other.
Robert L. Reece, a University of Texas at Austin sociology professor, told Tillery there's validity in classifying oneself as a millennial but not identifying with the typical characteristics of the generation.
As Tillery wrote, some millennials feel they better identify with the "cusper" someone who straddles two generations term "Xennial. In a Medium article that went viral in the spring, author and leadership expert Erica Dhawan called the micro-generation that the year-old millennial falls into "geriatric millennials," which she defines as those born between and What sets them apart, she recently told Insider , is their experience with technology.
Whereas younger millennials don't know a world without digital tools as a primary form of communication, the eldest millennials remember when they were very primitive. Resolved my issue. Clear instructions. Easy to follow. No jargon. Pictures helped. Didn't match my screen. Incorrect instructions. Too technical. Not enough information. Not enough pictures. Any additional feedback?
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