Americans aged under 35 are happier with their paychecks now than they have been since 2011. The Wall Street Journal’s Lauren Weber reports:
American workers under 35 report being happier with their paychecks than people over 55 for the first time since at least 2011, according to a new report from the Conference Board, a business-research organization that polls U.S. employees about workplace satisfaction.
Overall, the share of workers satisfied with their paychecks rose to 46.4% in 2018, from 43% in 2017, an increase that mirrors federal data showing that wage growth accelerated in 2018. The biggest leap came from millennials and Generation Z, whose enthusiasm for their compensation shot from 36% in 2017 to nearly 46% a year later.
The job surge under President Trump has reached all the way down into the market for summer jobs for teenagers. This summer saw the lowest unemployment rate for teens since 1966. That’s a lot of ice cream scooped, lawns mowed and shelves stocked.
Americans are enjoying a trifecta of accelerating wage growth, low unemployment, and strong consumer spending. If you have a child or grandchild enjoying their first “real” job, be sure to impress upon them the benefits of saving some of that money, and the impact that the power of compounding could have on their lives if they start now. Too many Millennials have no savings. That must change, because it’s never too early to begin preparing for your retirement life.
E.J. Smith - Your Survival Guy
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