Treasury Secretary Janet Yellen noted a 'sense of alienation' among young Americans, highlighting 'very deep dysfunction in people's lives' which reflects the rising 'deaths of despair' observed.
Median wealth for Americans between 25 and 39 hit $80,500 in 2022, a remarkable increase from just $23,750 in 2010, reflecting the escalating wealth disparity despite economic struggles.
Despite an uptick in wealth, the economic fragility young Americans feel is exacerbated by rising costs of education, healthcare, and shelter which outpace their income growth.
The decline in job participation rates among young men over the last 30 years — dropping from almost 95% in 1990 to current figures — signifies deeper economic issues.
#economic-fragility #young-americans #wealth-inequality #job-market-challenges #health-and-education-costs
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