Free Newsletter
Report: NYC millennials earn less, take on more debt
The Associated Press//April 27, 2016//
Listen to this articleNEW YORK — A report says millennials in New York City earn about 20 percent less than the previous generation of young workers and are likely to continue struggling from the effects of the recession.
The Wall Street Journal said the report from City Comptroller Scott Stringer found the recession saddled people born between 1985 and 1996 with more debt than their parents and fewer high-paying jobs as housing costs have grown in the city.
Stringer says too many millennials aren’t getting a fair chance to make it in the city.
The report says the average working 23-year-old in the city brought in about $23,500 in 2014, compared with about $27,700 in 2000.
The U.S. Census data shows millennials represented about 1 in 5 city residents in 2014.
Latest News
- PlayNation to Bring Purpose-Driven Indoor Playground to Eastway Crossing
- Construction Jobs Increase In 33 States And D.C. Between March 2025 And March 2026
- Beechwood’s Lakeside Pointe near Charlotte named community of the year
- ATTOM Analysis Finds Spring Remains The Prime Window For Home Sellers
- The Carson Debuts in Charlotte’s West Morehead Corridor, Introducing a New Era of Connected Living
- Wellness Concepts PVOLVE and OM Spa Now Open at Seventeen Hundred on East, Expanding Charlotte’s First Wellness-Focused Residential Community
- Moving Stress Statistics & How Homebuyers Can Avoid Costly Surprises
- Foreclosure activity rises nationwide with Florida and South Carolina among hardest hit states
- The McMansion era is over: How American homes have changed in 20 years
- Construction Jobs Increase In 30 States And D.C. Between February 2025 And February 2026
- Construction jobs rise in 38 states including North Carolina and Texas
- ATTOM reports home flipping profits lowest since great recession
Features
- Thomas & Hutton Grows Charlotte Team With Two New Project Engineers
- City of Charlotte Introduces New Deputy City Manager and New Director of Housing & Neighborhood Services
- JLL strengthens Charlotte capabilities with top Agency Leasing team hire from Foundry Commercial
- Thomas & Hutton Grows Charlotte Team With Two New Team Members
- Nick Schirato Joins Thomas & Hutton As An Environmental Designer In Charlotte
- Foundry Taps Alex Olofson to Lead Capital Markets Growth in Charlotte
- Tony Lathrop Strengthens Parker Poe’s Infrastructure, Transportation & Public Policy Services
- MVA Expands Economic Development & Incentives Group, Appoints Beth Buckner as Head
- Thomas & Hutton Announces Kaylee Neal’s Professional Engineer Licensure In North Carolina
- Thomas & Hutton Announces Sixth-Generation Leadership Transition as Firm Enters 80th Year
- Movement Mortgage welcomes Justin Caplan as East Coast Growth Director
- Ki McCaskill Joins Thomas & Hutton As Survey Technician In Charlotte
Polls
Loading ...