The research came from a report by Resolution Foundation, a UK-based research company, and showed that the problem is a lot worse than people think. The numbers showed the millennials (born between 1981 and 2000) are earning approximately $10,000 less than members of generation X (born between 1961 and 1980). These numbers are even worse considering millennials will likely make $100,000 less in their entire careers compared to their older counterparts.
These numbers are worse than people thought because of a “pay squeeze” that has put millennials on the receiving end of “small” cuts that line the wallets of older generations. While part-time labor and below minimum wage salaries have been able to keep dwindling companies afloat, this generation has taken the fall. And, unfortunately, the amount people talking about it has had little to no effect on the way things get done. If everyone’s talking about it, why is it getting worse? The lack of commitment to actually making policies, disrupting discriminatory tactics, and developing a fair system is staggering in politics, in business, and in the world overall. Study after study has proven that investing in employees is the best way to breed success in your company and your life. So why is no one doing it? Companies refuse to dole out reasonable salaries to their new employees because “it’s not meant to be a career.” This doesn’t mean people should be paid less; it proves that our system is not sustainable. Part-time jobs that are not supposed to be stacked until you can afford rent. Full-time jobs shouldn’t take up all your time while offering you only enough money to eat Ramen 5 days a week. If giving everyone a fair wage would ruin a company, maybe that company shouldn’t be around anymore.
