As a result of its latest report, the Resolution Foundation suggests that millennials, people who fall between the ages of 15 – 35, earn an estimated £8,000 less in their 20s than their generation X counterparts – those born between the early 1960s to mid-1970s.
The independent UK think tank found that some of the reduced earnings could be attributed to the financial downturn, and also highlighted that individual earnings began to slow the financial crisis began.
Executive chair of the Resolution Foundation and chair of the Intergenerational Commission, David Willetts, said: “Fairness between the generations is something public policy has ignored for too long. But it is rising up the agenda with the prime minister, politicians of all parties, business leaders and others rightly identifying it as a growing challenge.”
Download the full report here