The savings rate among Millennials is at negative 2 percent, partly due to stagnant wages coupled with increases in fixed costs. A bad labor market—lots of low-wage work available, but not enough ones with decent pay—have caused many young people to work multiple jobs. As Carl E. Van Horn, director of the John J. Heldrich Center for Workforce Development at Rutgers, told the Times: “The only cure for young people in this position is an economic recovery of robust proportions.”
I am, perhaps to my own detriment, a person who doesn’t complain very often.
And how were your weekends?
What are your estimates?
I paid for and enjoyed having cable television when I lived with roommates, but when I decided to live alone, keeping expenses low meant cutting the cable cord and not owning a television. I had a Netflix subscription with a two-DVDs-at-a-time plan, but even that was eventually whittled down to a $7.99 a month streaming-only subscription, supplemented with the occasional iTunes movie rental.
A few years out of college, my younger brother has been unable to find a full-time job working in early childhood education, so he has cobbled together employment with three part-time jobs: working with pre-schoolers at a private school, doing administrative work at a non-profit, and retail work. He lives at home, and the majority of his money goes to car payments, health care and student loans. “I’m trying to save, but it’s hard,” he told me. He was mostly at his a-few-dollars-above-minimum-wage retail job during the holidays, working early shifts in the stock room (“people buy a lot of stuff, and then they return a lot of stuff,” he explained). I bought him dinner and we talked about his career prospects. “I’ve been looking for that one job, but it hasn’t appeared yet,” he said. “I’m mostly just tired.”
My parents weren’t at the airport to meet me when I flew across the country to spend time with them during the holidays, nor were they at their house when I arrived and tried to figure out where I’d be sleeping (on an air mattress in a storage room).
Good morning! We’ll be on our holiday schedule starting next week so we won’t have an official weekend estimate, but feel free to use this post to make estimates/go over holiday plans if you feel inclined to do so. We’ll be publishing some stories from some of our regular contributors with the theme of “Home for the Holidays” and highlighting some of our favorite stories of the year. Plus the editors here will get a much-needed break. We hope you’ll get one as well!
It’s the time of year when everyone puts on the ugliest sweater they can find.