Report: NYC millennials earn less, take on more debt

(AP) -- A report says millennials in New York City earn about 20 percent less than the previous generation of young workers and are likely to continue struggling from the effects of the recession.

The Wall Street Journal says (http://on.wsj.com/1SLK3vn ) the report from City Comptroller Scott Stringer found the recession saddled people born between 1985 and 1996 with more debt than their parents and fewer high-paying jobs as housing costs have grown in the city.

Stringer says too many millennials aren't getting a fair chance to make it in the city.

The report says the average working 23-year-old in the city brought in about $23,500 in 2014, compared with about $27,700 in 2000.

The U.S. Census data shows millennials represented about 1 in 5 city residents in 2014.

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Information from: The Wall Street Journal, http://www.wsj.com

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