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> The economy is strong. I'm not sure why the author ends on such an optimistic note. Economy isn't great especially for millennials. 80% of Americans as a who

> The economy is strong. I'm not sure why the author ends on such an optimistic note. Economy isn't great especially for millennials. 80% of Americans as a whole live paycheck to paycheck. Furthermore there are some signs that there will be another recession coming up. If anything these statistics are going to get worse. https://www.npr.org/2018/11/30/672103209/why-arent-millennials-spending-more-they-re-poorer-than-their-parents-fed-says https://www.npr.org/2018/11/30/672103209/why-arent-millennia... https://www.cbsnews.com/news/millennials-are-much-poorer-than-their-parents-data-show/ https://www.cbsnews.com/news/millennials-are-much-poorer-tha... https://www.cnbc.com/2019/01/09/shutdown-highlights-that-4-in-5-us-workers-live-paycheck-to-paycheck.html https://www.cnbc.com/2019/01/09/shutdown-highlights-that-4-i... https://www.theguardian.com/business/2019/jan/05/global-economic-crash-2020-understand-why https://www.theguardian.com/business/2019/jan/05/global-econ...

skookumchuck 7y ago
Living paycheck to paycheck doesn't mean one is poor. I've known many such who were quite well off. They simply couldn't resist spending everything they had.
- pgodzin 7y ago
  It means they're one injury away from being poor
  - skookumchuck 7y ago
    The point is they aren't lacking in income. More income won't fix it for them.
    - deleted 7y ago
      [deleted]
winter_blue 7y ago
Well, we had a huge recession 10 years ago, and we’ve only recently recovered fully from it. We’re at full employment now. There are more open jobs today than unemployed people in the US. It’s true that the value of unskilled and low-skilled labor has dropped, but the value of skilled labor has substantially increased. Case in point: software developers are on average making $150k in salary alone in the Bay Area. Add bonuses, equity, and other cash and non-cash benefits: a good programmer can easily make over $200k. (I’m a millennial, and I find my own compensation incredible and unbelievable.) Americans living paycheck to paycheck has more to do with spending habits than income. People in the United States continue to have the world’s highest purchasing power. On a large scale, living paycheck to paycheck has more to do with culture and discipline than level of income. (Exceptions exist: living in a high cost-of-living area with low/minimum-wage income, only having part-time temporary like PhD graduates who have to be adjuncts and TAs forever, etc.)
- stunt 7y ago
  > There are more open jobs today than unemployed people It also depends on your income source. People with low job quality end up with low living quality regardless how much they earn. If it is coming from a busy job that for whatever reason feels pointless and or stressful, not having enough breaks, and long commute, etc.. That adds to all news about corruption, wars, conflicts, surveillance.. and people end up adopting pets more than willing to have children because they are seeking to have a free private time.
- luckylion 7y ago
  You're making an argument about "the economy" by focusing on a small part of it (highly skilled individuals). Sounds a bit like "housing was great in the middle ages, just look at the castles where the kings lived".

skookumchuck 7y ago

Living paycheck to paycheck doesn't mean one is poor. I've known many such who were quite well off. They simply couldn't resist spending everything they had.

pgodzin 7y ago
It means they're one injury away from being poor
- skookumchuck 7y ago
  The point is they aren't lacking in income. More income won't fix it for them.
  - deleted 7y ago
    [deleted]

winter_blue 7y ago

Well, we had a huge recession 10 years ago, and we’ve only recently recovered fully from it. We’re at full employment now. There are more open jobs today than unemployed people in the US. It’s true that the value of unskilled and low-skilled labor has dropped, but the value of skilled labor has substantially increased. Case in point: software developers are on average making $150k in salary alone in the Bay Area. Add bonuses, equity, and other cash and non-cash benefits: a good programmer can easily make over $200k. (I’m a millennial, and I find my own compensation incredible and unbelievable.) Americans living paycheck to paycheck has more to do with spending habits than income. People in the United States continue to have the world’s highest purchasing power. On a large scale, living paycheck to paycheck has more to do with culture and discipline than level of income. (Exceptions exist: living in a high cost-of-living area with low/minimum-wage income, only having part-time temporary like PhD graduates who have to be adjuncts and TAs forever, etc.)

stunt 7y ago
> There are more open jobs today than unemployed people It also depends on your income source. People with low job quality end up with low living quality regardless how much they earn. If it is coming from a busy job that for whatever reason feels pointless and or stressful, not having enough breaks, and long commute, etc.. That adds to all news about corruption, wars, conflicts, surveillance.. and people end up adopting pets more than willing to have children because they are seeking to have a free private time.
luckylion 7y ago
You're making an argument about "the economy" by focusing on a small part of it (highly skilled individuals). Sounds a bit like "housing was great in the middle ages, just look at the castles where the kings lived".