Millennials have ‘lower earnings, fewer assets and less wealth’ than past generations, report says

Published November 30, 2018 5:00pm ET

Millennials “paid a price” for the Great Recession, and as a result are not as financially “well off” as previous generations were at the same age, according to a new Federal Reserve study.

Millennials — identified in the study as those born from 1981 to 1997 — “are less well off than members of earlier generations when they were young, with lower earnings, fewer assets and less wealth,” according to the study released this month.