The pandemic has had a skewed impact on millennials, a generation already divided by wealth and opportunity before 2020.
The first millennials
recession
– the financial crisis – split the generation in half, as the older cohort graduated in a stagnating labor market and the younger cohort got the tailwind of the recovery. Pre-pandemic, millennials were characterized by high income inequality that seemed even more racially motivated.
The pandemic has widened this wealth gap, with some millennials doing well and others continuing to struggle, a reflection of the US K-shaped recovery. But this gap worsened and even created others, with a huge impact on careers on the one hand and the concept of maturity on the other.
Here’s how the pandemic further fragmented the millennial generation.