Federal Reserve Bank of St. Louis

St. Louis on the Air
5:19 pm
Wed May 7, 2014

The Struggle For Young People To Reach The American Dream: A Conversation With St. Louis Researchers

As the United States economy returns to a healthier state, one generation in particular is lagging behind in returning to pre-recession levels of wealth: millennials.

Young people in their 20s and 30s have taken a greater hit from the recession than any other age group, bringing into question whether the American dream of upward mobility is obtainable for them.

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Business
8:25 pm
Sun March 2, 2014

Young Families Hurt More By Recession

Credit (via Flickr/MoneyPit)

Younger families are not recovering as quickly from the recession as their elders.

An analysis from the Federal Reserve Bank of St. Louis found that families headed by someone younger than 40 have recovered only about one-third of their pre-recession wealth.

Meanwhile older families have nearly regained their pre-crisis level of wealth.

So, why are those under 40 having a harder time recovering?

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St. Louis on the Air
8:03 pm
Mon February 4, 2013

Restoring Household Financial Stability Post Recession

Federal Reserve Bank of St. Louis

Digging out of an economic crisis can be a lot more complicated than getting in to one and can take a lot more time, too.  While there are positive signs that we are climbing out of the recession, there is still considerable fallout, especially for young couples and recent college grads. 

Jobs are still hard to find for newcomers in the job market and college debt is overwhelming for many. The housing market decline, and resulting loss of wealth, was especially painful for young home owners. 

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