Millennials Turn Economic and Cultural Tides After Early-Life Hardships
Once dubbed a “lost generation,” millennials now earn more than any recent cohort at the same age and see their 1990s-era culture revived across media.
Millennials, born from the early 1980s to the mid-1990s, endured a harsh entry into adulthood as the global financial crisis triggered unemployment rates above 50 % in parts of Europe and forced many to remain in their parents’ homes. Despite those setbacks, the generation now enjoys the highest earnings of any recent cohort at the same life stage and is rapidly catching up on home-ownership. Their cultural influence is re-emerging, with 1990s fashion, TV shows and movies enjoying renewed popularity on platforms like Netflix, YouTube and Spotify.
While generational nostalgia is normal, millennials benefit from a unique mix of luck—such as the pandemic-induced retirement of older workers creating senior-level vacancies—and their own entrepreneurial drive, exemplified by billionaires like Dario Amodei, Mark Zuckerberg and Sam Altman. Technology, especially artificial intelligence, is expected to further cement their economic standing. The piece argues that policymakers should note this market-driven rebound rather than attribute it to state rescue, offering a modestly optimistic view amid concerns about AI’s impact on future jobs.
