Last year, workers between 25 and 34 years old had a median personal income of $35,000. In 1975, however, the same group earned $37,000 a year, when converted into modern dollars.
The Washington Post reports that the change is even worse for the typical young man, who earned $46,000 a year in 1975 and $40,000 in 2016.
Though more young people attend college today, Millennials have to deal with a well educated labor force. In the past, younger workers supplanted older workers that may have had little schooling.
While it was typical for older workers at that time not to have completed high school, a new generation — the baby boomers — had received what Americans now think of as a standard education, including a high-school diploma and increasingly a bachelor's degree.