Inflation is Eroding Purchasing Power and Hurting Millennials the Most

Exploring the Cost of Two Important Items from 2000 to 2020.

from My Budget 360

While we are still dealing with the fallout brought on by Covid-19, the group most impacted by the pandemic is young workers. They are disproportionately shouldering the hits that have come from the pandemic. Many are unable to telework and others are employed by industries that tend to pay less and have largely shut down because of the pandemic. Yet they are also paying record levels of college tuition for remote learning and many did not enjoy the record runup in the stock market because very few younger Americans own any stocks. While it might be difficult to track everything that is happening right now, inflation is eroding the purchasing power of younger Americans and we can see this in the data when we compare the cost of a few major items from 2000 to 2020.

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