A report from the office of Senator Dan Coats (R-Ind.) aims to paint a picture of the economic and employment challenges facing the youngest members of the work force. Coats says Millennials have found little growth in starting incomes and wages and have racked up high student debt, which is delaying home-ownership and marriage. Coats is chairman of the Joint Economic Committee.
The sources of information used in the report range from national financial and family foundations to the federal reserve.
Coats says Millennials are "a hopeful generation who grew up during the advent of the information technology revolution that has transformed our economy. Equipped with a fluency in technology and more education than previous generations, many Millennials are entering the workforce with high hopes of promising careers. Instead, they are finding stagnant starting incomes, underemployment and high student loan debt. These frustrations are delaying their decisions to start families, buy homes and establish businesses. This study details the multiple challenges that Millennials face and how Congress can help restore opportunity for the youngest Americans in the workforce."
The release of the report coincides with a hearing Coats is chairing called "Millennial Voices on Advancing the American Dream" in the nation’s capital.