DURBAN - According to a new study, millennials in their thirties earn less than their counterparts from the previous generation.
Resolution Foundation, a UK-based think tank, found that on average millennials make 4% less than what Generation X people made when they were the same age. Resolution Foundation analysed earnings in 8 high-income countries.
Millennials are people born in between 1980 and 2000 while Generation X are people who were born from 1966 to 1980.
Millennials in Britain showed the biggest income drop. When adjusted for inflation, the pay for millennials was 13% lower compared to the preceding generation according to Bloomberg.