the net worth of American consumers under the age of 35 has fallen by more than a third since 1996.
In addition to the recession, rising costs cut into millennials' ability to spend freely on luxuries such as diamonds, the Deloitte study found. Crucially, it also reported that consumers spent 16% more on housing in 2017 than in 2007. Healthcare costs increased by 21% in the same period, and education spending grew by 65% as student debt soared. , it should come as no surprise that millennials didn't enjoy being accused of destroying things they simply couldn't afford.
in how frequently the phrase has been used. While it hasn't completely disappeared, it's come close enough that I feel relatively confident saying millennials killed it. Framing industry trends as murder mysteries can lead to oversimplification, but it's also important to remember that theseWhen an industry struggles, thousands of people's livelihoods are at stake. No one is served by dry headlines spouting out sales figures.
The issue with the millennial murder trope is not so much the deadly implications, which are often valid. Rather, it's a lack of context, and an omission of the underlying issues. These "murders" were framed as choices instead of decisions made out of economic necessity. Going into 2020, "millennials are killing" headlines may finally be dead. But, the economic realities that sparked industries' sales slumps and millennials' financial struggles continue. Going into a new decade, remembering this context is critical — especially as we brace for a new avalanche of generational trend pieces
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