FOR IMMEDIATE RELEASE:
April 29, 2015
Contacts: Colin Seeberger, colin.seeberger@
Sarah Lovenheim, sarah.lovenheim@
New Report Looks at Unprecedented Challenges Facing Millennial Parents
Report Finds More Than 1 in 5 Millennial Parents is in Poverty; Declining Wages, Rising Debt and Exploding Costs
[WASHINGTON]–On Wednesday, Young Invincibles released a new report, Finding Time: Millennial Parents, Poverty, and Rising Costs, which looks at the driving forces behind rising poverty among Millennial parents, such as student loan debt, falling wages and the exploding cost of education and childcare.
The report finds, for example, that more than 1 in 5 Millennial parents is in poverty (a nearly 40 percent increase since the start of the new millennium) and that providing affordable childcare on college campuses, paid leave, and flexible and secure work scheduling could make a significant difference in supporting young parents.
“We know that the Great Recession ravaged many Millennials, but few have felt the strain more than today’s young parents,” said Konrad Mugglestone, author of Finding Time. “Failing to address the problems plaguing Millennial parents could have significant financial and social costs not only for this generation, but for the next.”
Already, we’re seeing young parents work a midnight shift at twice the rate of young non-parents. Changing job schedules is just one of many shifts happening across today’s workforce.
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