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Millennials Are Rapidly Getting Richer

Posted on AllSides May 10th, 2024
From The Center
Photo-illustration by Newsweek/Getty

The wealth of young Americans has grown rapidly after years of stagnation, thanks to the strong recovery of the U.S. economy.

Data compiled by the Center for American Progress (CAP) has found that Americans aged under 40 are outpacing other age groups when it comes to accumulated wealth, employment rates and wage growth following the coronavirus pandemic. In four years, the average wealth of households under this age has grown by almost 50 percent since 2019.

Compiling data from the Federal Reserve, CAP found that the average wealth of these...

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