Generation Y is the largest generation in U.S. history, yet the financial crisis has changed the way young people today work and think about their futures.
“In general, [young people] don’t have stable jobs, aren’t earning as much money as they should historically, don’t have benefits, don’t believe in a stable economic future for themselves,” says Riva Froymovich, author of the book “End Of The Good Life.” “And if you don’t have confidence in your future, you’re not going to make those purchases that have been the backbone of the American economy for 50 years and more.”
In this interview, Froymovich discusses how current government policies have led to a “lost generation,” as young people postpone marriages, buying homes and starting families, which “will have long-term consequences for a group that had no hand in creating the financial crisis.”
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