For Americans under the age of 40, the 21st century has resembled one long recession.
I realize that may sound like an exaggeration, given that the economy has now been growing for almost a decade. But the truth is that younger Americans have not benefited much.
Look at incomes, for starters. People between the ages of 25 and 34 were earning slightly less in 2017 than people in that same age group had been in 2000:
The wealth trends look even worse. Since the century’s start, median net worth has plummeted for every age group under 55: