The gerontocratic economy

from David Ruccio

According to the U.S. Census Bureau, many more so-called millennials (young adults, 18-34 years old) are living in poverty today, and they have lower rates of employment, compared with their counterparts in 1980.

• One in five young adults lives in poverty (13.5 million people), up from one in seven (8.4 million people) in 1980.
• Today, 65 percent of young adults are employed, down from 69 percent in 1980.