The much-talked about Millennial generation is full of promise but little profit. In the New York Times article "We're Making Life Too Hard for Millennials," Wall Street executive Steven Rattner writes that "The most educated generation in history is on track to becoming less prosperous, at least financially, than its predecessors."  

He goes on to explain the crisis and its causes, including charts and graphs sourced from Social Explorer and our Census Explorer collaboration.

They are faced with a slow economy, high unemployment, stagnant wages and student loans that constrict their ability both to maintain a reasonable lifestyle and to save for the future.

Longer term, rising federal debt payments and increased spending on Social Security and Medicare will inflict a tremendous financial burden on them, threatening their own prospect of receiving promised retirement benefits.

To a considerable extent, that’s the fault of my generation, the baby boomers. We were the children of the Greatest Generation, but we may also be the most irresponsible generation.

Americans between 18 and 34 are earning less today (after adjustment for inflation) than the same age group did in the past. A typical millennial averaged earnings of $33,883 (in 2013 dollars) between 2009 and 2013. That was down 9.3 percent (after adjustment for inflation) in just a decade and is the lowest since 1980. Older Americans have fared considerably better; earnings of all full-time workers were roughly flat between 2000 and 2011.

He details how the recenssion and other forces have hurt millennials in terms of wealth, savings, debt, homeownership and family life. 

He also sets forth suggestions to help reverse these dangerous trends.  (Read the full article here.)

To learn more millennials and other groups using Social Explorer and Census Explorer: Young Adults Then and Now.