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The Times (London):
Young 'worse off than their parents were'

4 November 2019

A decade of wage stagnation since the financial crisis has left young people financially worse off than their parents were at the same age, according to a report.
The Centre for Economic Performance at the London School of Economics found that the fraction of young people who earn, in real terms, as much as or more than their fathers at the same age, fell by more than 20 percentage points in the decade since 2008-09. In 2005, more than half of young adults aged around 30 earned as much as or more than their fathers. By 2018, the figure had fallen to 30 per cent.
"In other words, the majority of young adults face economic decline on this measure, rather than progress," the report said.
[paywall]
'Falling Absolute Intergenerational Mobility' presented at the Royal Economic Society Annual Conference 2019.