May 8 (Bloomberg) -- In spite of -- or thanks to -- the worstrecession in the post-World War II era, the kids are alright,conclude economists at the Federal Reserve.
Compared with young adults from the generation prior, so- calledMillennials in 2010 were more likely to own homes and retirementaccounts and have bank deposits, according to research publishedthis month by Lisa Dettling and Joanna Hsu, economists at the Fedin Washington. With the exception of student debt, liabilities aredown for today’s young adults.
While Fed Chair Janet Yellen has pointed out that young adultsare ‘‘shacking up with their families and probably would like to begoing out and acquiring places of their own,” Millennials are doingbetter on many measures than either older Americans or theircounterparts a generation earlier. At the same time, they may alsobe better equipped to deal with economic swings than previousgenerations, the Fed paper found.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
