It all started with the financial crash of 2008.
The Great Recession hit just as the Millennials were hoping to start their careers. Suddenly, all the good jobs were gone, and they were more likely to be unemployed than the older generations.
Even a decade after the crash, all but the most educated Millennials earned and saved less than Xers or Boomers did at the same age. Lower entry-level salaries can have consequences (“wage scars”) that last an entire lifetime.
After that previous labor-arket trauma, a lot of Millennials took whatever gigs they could find: bartenders, baristas, waiters, contract workers. These are exactly the types of jobs that fell away during the Covid-19 lockdowns and may not come back soon.
They have a right to be frustrated. But what makes many of them irate is watching the older generations milk the system at their expense, through what some economists call “Boomer socialism.”
Source Bloomberg Opinion
เมื่อ วิกฤติศก. Covid ทำให้คนเจน Millennial กลายเป็น Socialist
The Great Recession hit just as the Millennials were hoping to start their careers. Suddenly, all the good jobs were gone, and they were more likely to be unemployed than the older generations.
Even a decade after the crash, all but the most educated Millennials earned and saved less than Xers or Boomers did at the same age. Lower entry-level salaries can have consequences (“wage scars”) that last an entire lifetime.
After that previous labor-arket trauma, a lot of Millennials took whatever gigs they could find: bartenders, baristas, waiters, contract workers. These are exactly the types of jobs that fell away during the Covid-19 lockdowns and may not come back soon.
They have a right to be frustrated. But what makes many of them irate is watching the older generations milk the system at their expense, through what some economists call “Boomer socialism.”
Source Bloomberg Opinion