Millennials out-earned prior generations once adjusted for inflation and age

Evidence

Z perhaps had a point: Millennials’ long-running collective moaning about structural inequities became harder to take seriously as they prospered in middle age. Generational researcher Jean Twenge concluded in 2023, “Millennials, as a group, are not broke—they are, in fact, thriving economically.” By the end of the 2010s, millennial households out-earned previous generations of the same age, even when adjusted for inflation. While homeownership rates were down, the gap was less dire than the narrative suggested. Moreover, millennials stood poised to inherit a massive wealth transfer from their baby boomer parents. As the evidence for permanent victimization evaporated, millennials lost their entire self-narrative. — W. David Marx, Blank Space, 664

Categorization

• QUESTION: This read on millennial victimhood-narrative collapse is provocative but relies on one 2023 Twenge claim — worth checking the underlying data before repeating.