Millennials are ‘canaries in the coalmine’ for toxic economic trends, say Stanford scholars
A new report by Stanford scholars lays out the problems U.S. millennials face as a result of decades-long rising inequality. Problems they experience include rising mortality rates and increased poverty among those without college degrees.
Millennials – young adults in their 20s and 30s – earn less money without a college degree and are more likely to die prematurely from suicide or drug overdose than previous generations, according to a new report from the Stanford Center on Poverty and Inequality.
The report also found that millennials also have a wider set of identities from which they can choose: Unlike older generations, millennials are frequently embracing multiracial and unconventional gender identities. However, this doesn’t mean they are any more accepting of people different from them compared with previous generations. The report found that millennials believe common racial and gender stereotypes to be true just as much as people from the Baby Boomer cohort, who were born from 1946 to 1964, and Generation X, born between 1965 and 1980.
The report, to be issued on June 6, brought together some of the country’s leading experts on poverty and inequality and offers a comprehensive assessment of data on education, health, employment and income, occupational segregation, debt and poverty rates, economic mobility, racial and gender identities, social connections, housing and incarceration trends.
“Millennials are the first generation to experience in a full-throttled way the social and economic problems of our time,” said David Grusky, professor of sociology and director of the Stanford Center on Poverty and Inequality.