Four ways millennials are still scarred from the recession


Financial Post

With the North American economy gaining steam, employers are finally hiring — and those benefits have spread to most corners of the job market.  Even young adults, who bore the brunt of the downturn, are starting to regain their economic footing.

That doesn’t mean all is well for millennials, especially those who entered the workforce when things were at their worst. Improvements in the headline statistics mask some of the longer-lasting effects of the recession.  Here are some of the scars that recession graduates may bear for a long time to come.

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They may never make as much money

When you’re desperate for a paycheque, you take whatever you can get. During periods of economic turmoil marked by high unemployment, job-seekers are more likely to take roles at lower paying companies, because that’s what’s available to them, according to a National Bureau of Economic Research paper by Yale…

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