If your parents have ever given you a hard time about your finances or current job situation, you're definitely not alone.

You're also in luck. 

There are now some concrete stats to back you up next time you're explaining to your mom why you're 27 and living in a closet with 4 people you met on Craigslist. 

Turns out, there's legitimate, logical reasons why we simply aren't making enough money as our parents did at our age. 

City comptroller Scott Stringer recently released a report stating that millennials in New York City are making 20% less than the generation before them, and it's not because they're lazy.

The fall in average income for twenty-somethings is due largely to the unfortunate state of the economy when they graduated from college. 

"This group of young people is confronting unique economic challenges that their parents did not have to face,” Stringer says. “Every generation is expected to do better than the last, but too many millennials are not getting a fair chance to make it in New York City.”


The report also reveals that by 2014, the average income for a 23-year-old New Yorker was $23,500, which is down from 2000, in which this figure was $27,700.


Unfortunately, it doesn't look like things will be improving anytime soon. 

The city's population of twenty-somethings is growing steadily, jumping from 10 to 19 percent from 2000 to 2014.


This information, while beneficial during your annual argument over finances with you parents over Christmas dinner, isn't exactly uplifting. 

However, it does make us realize that it's not totally our fault, and we are not in fact complete failures. 

So that's something, right?

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[via NY Post] [Feature Image Courtesy The Odyssey Online]