The Wall Street Journal had a blog post today that really hit home for me. What I have long suspected for a long time is that a subsection of a generation (my subsection as fortune would have it) happened to be born at a time that dictated they would be coming into the work force or starting their first businesses at a time when the Great Recession hit.

Something just seemed off to me... and I'm not talking about generational envy or "why can't I have" whatever. My parents generation and the brief sub-generation between them and me had their own struggles I'm sure. But still, it seemed as if my generation was working harder and longer and had much less to show for it despite technological advances. And now that I think about that, imagine how large the disparity would be if we removed the technological advances from the equation. In any event it puts the "just go down to the personnel office and apply for a job" advice from the guy who got one job in 1979 that he had for the rest of his life (with full-benefits and paid vacation) into perspective.

I do love he fact that "the central bank" added the caveat that "this generation has time on their side". Translation: "You have time to work even harder and maybe get yourself out of the hole that we put you in".

From the Wall Street Journal:

People born in '80s are poorer

Americans born in the ‘80s began life on the back foot economically, according to a report by the Federal Reserve. Because of the Great Recession, these people now have wealth levels “34% below where they would be absent the financial crisis and its aftermath,” The Wall Street Journal writes of the report. Those born in the ‘70s are 18% less wealthy, while those in the '60s are down 11%. The '80s generation entered the workforce during the crisis. Crucially, though, this generation has time on their side, the central bank added. This and high education levels may lift them toward their financial goals in the end.