Only 26% of Millennials are married now, compared to 36% of Gen-Xers and 48% of Baby Boomers when they were young. We propose (no pun intended) that the economy is to blame.
When they were between 18 and 33, Gen-Xers had a median household income of $64,949 — enough to support two adults, according to Economic Policy Institute's budget calculator. At the same age, a Millennial today can expect to earn only $62,528. A difference of $2,000 may not seem significant, but rising costs of living and a more competitive job market place increasing pressure on Millennials' budgets, leaving little room to support a family.
Facing very little financial breathing room, the average Millennial is often cornered into taking whatever job he can find to pay the bills. So, while their incomes are similar to Gen-Xers, Millennials' effective wealth is not.