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“Boomers had the door wide open and then slammed and barred it behind them,” said one angry commenter to Cat’s video.

“Everything goes up but our salaries,” said another.

Across 7,000-plus comments on the video, most appear to be in complete agreement with Cat’s sentiments. Some claiming to be recent graduates say they’re making less than the national average or have been searching for years for a good job.

“The job market hates entry-level workers,” said one commenter who says they’ve been unable to get a job in their industry after graduating two years ago.

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Some good news

It’s not all doom and gloom for American workers. The median weekly wages for full-time workers outpaced inflation for the first three months of 2023, according to the Bureau of Labor Statistics.

In addition, the country’s lowest wage earners are seeing faster growth than the top earners. From January 2020 to September 2022, the bottom 10% of American workers have seen their real (inflation-adjusted) wages rise 6.4%, according to the National Bureau of Economic Research.

Add in a low unemployment rate and it seems younger, poorer workers may be enjoying a rare period of outperformance over older, wealthier ones.

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Vishesh Raisinghani Freelance Writer

Vishesh Raisinghani is a freelance contributor at MoneyWise. He has been writing about financial markets and economics since 2014 - having covered family offices, private equity, real estate, cryptocurrencies, and tech stocks over that period. His work has appeared in Seeking Alpha, Motley Fool Canada, Motley Fool UK, Mergers & Acquisitions, National Post, Financial Post, and Yahoo Canada.

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