and salaries adjusted to make up for that inflation.
Not as much as you think. If you hit google and look even a little bit you will find a plethora or sources, some partisan and some not, that will confirm that millenials make less money than their parents and grandparents. It's irrefutable. They have it harder than you did.
Why Millennials Earn Less Than Their Parents | Bankrate.com
"Looking at historical data, though, that explanation may not tell the full story. A
recent study by Resolution Foundation found that income growth between generations in eight “high-income” countries, including the United States, continues to slow. When Gen Xers reached ages 30-34, they saw a 30 percent income increase compared with the generation before, but millennials’ income level at the same age fell by 4 percent in comparison with Gen X.
Looking further back, a
Young Invincibles’ analysis of Federal Reserve data shows that millennials’ net worth is only half what baby boomers held at the same age. Today’s millennials also earn 20 percent less in constant dollars than 25-34 year olds in 1989, when the demographic was populated by the youngest baby boomers.
A
2017 study by researchers at Harvard University, Stanford University and the University of California at Berkeley put the data into a bigger long-term perspective. They found that absolute economic mobility, or the ability for children to earn more than their parents, has dropped by more than 40 percent since the 1940s.
Whereas baby boomers and the silent generation were almost certain (92 percent) to earn more than their parents, due to economic booms, increasingly accessible education and emerging industries, the study found that children born in the 1980s and beyond only have a 50 percent chance of attaining the same “American dream” of economic mobility."