Following is a quote from “What Broke the American Dream for Millennials?”
Wages have cumulatively gone up more than prices since 2019, and that’s especially true for Millennials. Workers who are now between the ages of 29 and 38 saw wages go up an average of 14%, adjusted for inflation, since 2019, according to Center for American Progress’ Duke.
That’s a nice bump. But at the same time, Duke notes, those increases may not have sunk in psychologically for workers who also became parents in that time period.
Here are our views on the problems:
First, the “American Dream” is being shattered thanks to our media and the way they report the news. Read carefully the above two paragraphs. The first paragraph suggests a true income growth after adjustment for inflation! That is marvelous, worth celebrating. But, the second paragraph beats down and sours that optimism! It is real life. But, there is an inconsistency in the data used for comparison – first is the case of parents with no child and the second is the case of a family celebrating the joy of having a child in their midst. While it is indeed worth celebrating the child and the joys that come with it, the parents should ask:
What choices they have made or choices they will make in the coming elections, to elect leaders in every position that can sustain and improve their lives?
What skill set has this couple gained since 2019, to remain competitive and gain more capability to command higher wages and benefits?
“Being a parent in America is very expensive,” he said. Maybe you get a raise and a promotion in your late 20s or early 30s, but the cost of child care more than offsets it. “A strong economy isn’t necessarily going to provide parental leave or affordable housing,” Duke says. “Those are investments that we as a society have to fight for.” Rachael and Garrett feel that pain acutely. Pricing out the cost of daycare for Miles was a reality check that quickly altered their timeline for a second child. “We’d love to have kids back to back,” Rachael says. “I’d love for him to have a partner in crime, but we can’t afford to give him [a sibling] for at least four years.”
It is absolutely true that a strong economy isn’t necessarily going to increase your wages and the convenience one can afford such as better child care, parental leave and affordable housing. They will be the result of two things:
1. Self reliance to constantly improve one’s skills to be seen as a value added worker every day and in every opportunity. These are the System Thinkers and Solution Providers, much needed today.
2. Think on behalf of others, as much as we think of one’s own family and its economics and getting more children. This broader perspective of life and how we contribute to it, is Emotional Intelligence (EI). Such EI should drive every millennial to the polls for the primaries and in the November elections. Electing leaders in every position of governance that will address and serve the needs of millenials, is the best way to get the needed basic resources and equitable sharing of prosperity in a Democracy!
Electing leaders lacking in moral strength, willing to cheat at all cost and use the court system and “constitution” as their fig leaf, and remain silent partners in the name of mythical party loyalty is a sure way to further break the dream of the millenials and for the generations to follow.
The final question is this:
Are the millennials who are doing well and also those who feel the legitimate doom and gloom (further perpetuated and amplified by the media) ready to address and answer the above two questions?
STIMS Institute 