Don’t feel sorry for millennials. They are living it up now
It is easy to exaggerate their economic woes
Some of clichés about millennials are still true. In America that generation, now aged between their early 30s and mid-40s, may last year have spent around $1.5bn on avocados, according to The Economist’s rough estimate. Millennials also really do buy more craft beer than other cohorts. But, across rich countries, an even more enduring stereotype about millennials has stopped fitting the facts. They are no longer struggling as they once did. Many are out-earning their parents (see chart 1). Growing numbers occupy positions of real power in business, politics and culture. Home-ownership is rising fast.
