Millennials Head One-Third Of All Poverty-Stricken U.S. Households (The Rest Live With Mom)

Tyler Durden's picture

Millennials just can't catch a break.  Despite being the most educated generation ever to walk the face of the planet, at least according to their tuition bills paid by mom and dad, a staggering number of them now head households living below the poverty line...and that excludes the ones forced to live at home with mom and dad.

According to a recent note published by the Pew Research Center, Millenials now head more households living below the poverty line than any other generation and, in aggregate, represent nearly one-third of all impoverished households in the United States. 

More Millennial households are in poverty than households headed by any other generation. In 2016, an estimated 5.3 million of the nearly 17 million U.S. households living in poverty were headed by a Millennial, compared with 4.2 million headed by a Gen Xer and 5.0 million headed by a Baby Boomer. The relatively high number of Millennial households in poverty partly reflects the fact that the poverty rate among households headed by a young adult has been rising over the past half century while dramatically declining among households headed by those 65 and older.

 

Of course, that's all despite the fact that they only head just over 20% of all households...

Millennials are the largest living generation by population size (79.8 million in 2016), but they trail Baby Boomers and Generation Xers when it comes to the number of households they head. Many Millennials still live under their parents’ roof or are in a college dorm or some other shared living situation. As of 2016, Millennials (ages 18 to 35 in 2016) headed only 28 million households, many fewer than were headed by Generation X (ages 36 to 51 in 2016) or Baby Boomers (ages 52 to 70).

 

Of course, those aren't the only stats that prove just how much those anthropology degrees are paying off...Millennials are also winning at the 'cohabiting-couple' game...presumably because it takes a village of millennials to cover one monthly rent bill.

 

Meanwhile, for the first time in history, more young adults today are living at home with mom and dad than with a spouse.

Millennials

 

Conclusion:

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clade7's picture

It doesnt seem to bother them though, not like it would a working Man...Maybe they are smarter than they appear afterall?...so hey, just go with it (shrug)

bwh1214's picture

Oh more millennial bashing, the baby boom generation is the worst most entitled generation this country has ever had.  They better hope the millennials don’t collectively realize this.  This post shows how cushy their investment lives have been.  Asset Expense Index

new game's picture

Just thank the FED! simple shit maynard...

MillionDollarButter's picture

Let the boomer tier posts commence!

DontGive's picture

On the bright side, those who aren't droolers require very little effort to stand out.

TeamDepends's picture

Yeah sure, "most educated"!  Read:  Most brainwashed by marxist scumbag "professors" and before that, leftist teachers.  Can't wait for the "higher education" (not hard sciences) armageddon.  Don't blame these kids, blame The Beast System.

sickavme's picture

Well, its not really their fault.

The fed and previous admins have crushed the economy so bad that they had no other choice but to go to college for anything, even if it was for just something to do...

 

They literally have no future and are insane on top of it...

 

Meanwhile, us 90's brats are working 2-3 jobs just to hold the whole thing together, wonder when we will just get tired and give up....

The_Juggernaut's picture

That's what they get for voting for Hillary.

Retired Guy's picture

Don't ya just love all these generational generizations? I'm a boomer who worked and saved. I started out with nothing. My first pay was 95 cents per hour.  My kids all became engineers. I still do strenuous exercise everyday. Where is all that privelege attributed to me?

There is little point in blaming a generation. The white collar criminals have taken control as is their nature.  Blame yourself for not unseating the bastards. Where were you when the congress of idiots was reelected over and over? When dolts claim they don't vote did you jump all over them for shirking their one day of power? Have you activated your fellow victims?

swmnguy's picture

Hear, Hear.

OK, I'm one of the early Gen X'ers.  All I heard as a teen/young adult was how lazy and undisciplined and ungrateful and disloyal kids were "these days," the early '80s.

Of course it was all bullshit, and the same bullshit every generation says about the younger generation.  It would be ridiculous for kids to do things the way their parents had done them some 30 years before.  It's ridiculous for a kid with a freshly-printed Bachelor's degree to expect a lifetime career job offer, buy a house and a new car, and start a family.  It was when I was a kid, too, though the old folks picked at me for not having done what they did in the 1950s, for crying out loud.

Same bullshit here.  The Millennials didn't turn Higher Education over to the Finance Sector, nor did they turn what used to be employer-supplied On-the-Job Training into what's now student-purchased vocational education through the colleges and universities, at enormous expense.  They're responding in a pretty rational way to the situations they face.

And yeah, "Kids These Days" expect to get ripped off and lied to at every turn by everyone in Authority; care to venture a guess as to why?

Caloot's picture

The boomers are kind of like a rotten rusty pot filled with shit calling the kettle black.   Oh was it so hard with 30 years of free falling interest rates?   By a house for 80k at 12% interest payed for by Their parents and selling it 15 years later for 250k.   Oh how hard, for the mechanic dead beat to raise 5 kids and a house, 3 cars and two vacas a year.  A nd still have money left. Not to mention, the worst parents in the history of eartmh.  They made the millennials, turning their sons into faggots, their daughters into feminist dykes. Destroyed labor through their  self induced Marxist bullshit. Destroyed education through their bullshit ideals on college.   Destroyed home attainment for their kids and their kids kids while living in oversized mcmansions that they flipped ten times in a housing bubble they created.   Fking idiots die in Vietnam, and what do these self righteous a holes do, why send their kids to kill towel heads in a desert so their legs can be blown off, turning them into emotionless roid heads. .They have no idea how much their kids hate them.  They'll see as they die in the poverty stricken nursing homes alone... I only hope they can live their lives out for just a small bit in the disaster that is obviously coming.  The disaster they've created.

what happened's picture

 

I am right there with you.  We have allowed a bunch of theives, mainly lawyers, do whatever it takes to get re-elected including collusion with corporate entities.  They gave extravagant packages to government workers which the private sector pays double for in the end through taxes, they legislate to coffer more money, they have diminished the family structure and have let the CIA have free reign to run clandestine and often destructive activities.  Personally, I am disgusted and will vote all incumbents out.

Caloot's picture

Oh.   But but. I pay their tuition.   Lmfao

yogibear's picture

More H1Bs, refugees and  dreamers should fix it. 

Sarc.

clade7's picture

I wasnt bashing them, its admirable actually, being happy piss poor ...I got a few hanging around here all day while I'm at work... One is up in the Kitchen right now, I hear the blender running, He sure loves banana daquiris!  I tried my best, Lord Oh Mercy Me I did!  I even have a buddy that works at United Fruit and tried to get him a job!  Told him you can start out on strawberries and work your way up to bananas someday!  Threatened to ship him off to military School with the Finkelstein kid!  Nothing has worked!  I've been outsmarted and admit defeat!

overbet's picture

Parents, this what pampering does. Wait until these fools start running the country.

bwh1214's picture

Yes we will, and remember you will be weak and frail while we realize SS is broke and we are unwilling to bail it out.  If things are fair your assets will be given to those who really support you in old age not your kids.  There is a distinction.  One gets your assets if you are allowed to live off of underfunded pensions and SS, one gets your assets if things area actually fair, but you will fight it tooth and nail. 

 

The Greatest Retirement Crisis In American History
tmosley's picture

Not so much pampering as refusing to challenge them, allowing them to compete honestly, and teaching them philosophy and rhetoric (since the schools don't teach that any more).

Sirius Wonderblast's picture

If it's the same in the US as it is here (seems like it is) then schools gave up on teaching anything remotely difficult years ago. The sprogs didn't like it, the teachers weren't up to it and the parents (curse them) didn't care enough to reverse the trend. Hence a suggestible mass of "entitled" epsilons shuffling around with a chip on the shoulder and fashionable pseudo-leftist inclinations to match their stupid little hipster beards (and that's just the girls!).

Phew!

yrad's picture

"Up" in the kitchen? So, you're in the basement? Seems like a parenting issue.

SilverRoofer's picture

Bend and Scoop that's how the Mexicans do it

Bend and Scoop

Inconsequential's picture

clad7: You must be female..that shit just wouldn't cut it. As long as you support that, it will continue. Do the boy a favor and pull that tit....

Retired Guy's picture

Being happy and piss poor is a talent that may well come in handy when the bubbles pop.

My mom tore into me for protesting the Vietnam war way back when. She said the government knew more than we did. Secret stuff, don't you know. She also thought I should get a better job. Nothing really changes the relationship between parents and their adult kids. Things change. Old folks not so much.

Caloot's picture

I did the best I could... Blah fking blah. No you didn't.   You created them. 

Ubuntuuser's picture

I am of the firm belief that government should be limited to the business of banking, health insurance, and clean energy power utilities and run NON PROFIT. Education to some extent at the state level. That's where I draw the line on government.

Whatever price increases on energy to the consumer by publicly owned power utilities can go towards paying shortfall funding in single payer national health insurance.

Or if prices for energy were set at market rates and profits were generated, those profits could be recycled to fund health insurance, education, and universal basic income.

Ballin D's picture

stupid regulation put us here. Your stupid regulation isn't going to do the exact opposite of what big govt has always done throughout history

Sirius Wonderblast's picture

I'm of the firm belief that government should begin and end with defence of the realm, and overseeing the rule of law. Anything more is superfluous, probably corrupt, and creates drag.

Bill of Rights's picture

The fuck you say, at least the boomer generation worked! You lazy pricks can't even make a coffee right and want $20 an hour for the stupidity.
.
And second thing never let an old man make a fool
out of ya , with your wait Till the young fools wake... ya I'm shivering in my boots....

Ballin D's picture

There's losers in every generation. At least millennials didn't raise the monsters you're describing while bankrupting the nation and letting in the wildlife. White millennials vote red (and have a higher independent vote than any other demographic). The generation as a whole always looks bad in these stats because idiotic policy removed our borders and encouraged minorities to out breed the rest of us. Now crime, iq, unemployment, etc all gets averaged in with the largest minority population of any demographic so it looks like the whole thing is fucked

nevertheless's picture

exactly, the baby boomers handed this nation over to the Zionists who handed it over to the illegals...

 

my only hope is that the baby boomers are around long enough to get fucked by the same illegals they so eagerly allowed in. 

Gorgeous's picture

They?  There's a lot of "they" who did no such thing.  Nevertheless, speak for yourself.

ItsSnowingInColorado's picture

Baby boomers are largely responsible for the shitshow that is the US economy.

https://www.youtube.com/watch?v=aTZ-CpINiqg

 

Gorgeous's picture

Right.  Bad boomers.  Or was it the financialization of everything, trillions in derivatives, companies that go to Cambodia for sweat shop clothes instead of investing in automation at home.

besnook's picture

so change it you useless piece of nose drip. so far, all i hear is bitching and elaborate excuse making. if you want something bad enough you have to fight for it. there are no participation trophies in real life. oh, i take that back. there is an ebt card in the mail for your weak ass. there's your participation trophy. life's a bitch, then you die. the trick is not making death the reward.

ItsSnowingInColorado's picture

lol, I am doing well in life, and I am niether a millenial or a boomer. If you want to compare assets and measure dick sizes you're on the wrong website. 

Tthe Baby boomers oversaw massive underfunding of future expenditures, the rapid expansion of consumer debt, the national debt and the financialization and rapid inflation of most major asset classes, well it appears... 

https://www.youtube.com/watch?v=MMzd40i8TfA

 

Gorgeous's picture

Oh, they realize each generation is getting poorer.  Those born during the recession could afford a house and two cars on single income while Mom stayed at home, and then retire with a full pension as a machinist or butcher.  Not their kids.  Not the Xer's.  And the post Financial Crisis kids will probably never dig out.  They will urbanize and collectivize.  And down vote SS and Medicare for their parents.  So better not get in the habit of bashing them.

general ambivalent's picture

While I think it is a mistake to blame the generations (they are just a representation of the problems of the time) here is an interesting perspective on The Greatest Generation:

https://youtu.be/z-6YX-aceOk

Caloot's picture

 Smell you later boomers. Time to get your diapers changed.

JoeTurner's picture

yes but my job as a barrista at the new hotel in Brooklyn Heights will be my pathway to Scharageiesque ritches !

tmosley's picture

>their tuition bills paid by mom and dad

Mom and Dad didn't pay those bills. Son and Daughter are debt slaves. Don't really understand why Tyler feels the need to denegrate these young people even more.

Deplorable's picture

I beg to differ...

I've paid over 100K to cover my kids tuition bills for the last 5 years.

tmosley's picture

You're a good father. Most are not these days.

We Are The Priests's picture

Just curious, and in no way meaning to be rude or offensive, but do you ever lay awake in bed at night and repeatedly ask yourself, "Why am I doing this?"

venturen's picture

I am in my first year of paying $50k(at $70k school) a year for my first kid...wicked smart(studying physics) else she would be getting nothing...and she is going to have little debt...and is going to pay for all other schooling.

Mustafa Kemal's picture

ditto here. Will it end? Will mine get a job?

 

 

BandGap's picture

85K so far. One engineer, one biochemist and one entrepreneur (owns own business). Three more to go.

Bill of Rights's picture

Every generation has been a debt slave, nothing change but the numbers .

tmosley's picture

Incorrect. Boomers could pay for college with wages from their summer jobs. Kids today need a full time job paying $20 an hour to be able to pay for college.

Which is why you shouldn't go to college. It is no longer a place for smart people. Arguably it never was.