By ED FINKELSTEIN
The “millennial generation" (20-35) is facing a new phenomenon: they are not expected to earn as much as their parents, an ideal long considered part of the American Dream by parents. Many are still living at home because good paying jobs are scarce.
For parents with millennials as part of their family, and the millennials now in the workforce, be aware: a so-called “right-to-work” law (RTW) is an albatross that will only make your situation worse!
That’s another piece of bad news in this Labor Tribune series highlighting social, economic and lifestyle issues in RTW vs non-rtw states. And it’s the same story every time — the majority of WORST states in America in every category are RTW states.
That’s why on Aug. 7, workers everywhere are urged to vote “NO” of Prop. A, the RTW law financed by out-of-state dark money groups and millionaires who want to drive down workers’ wages, benefits and minimize safe working conditions for their own personal gain.
Here are the facts parents and millennials need to understand:
•WITHOUT RTW – Only nine of the 25 worst states (36 percent) are without a RTW law.
• WITHOUT RTW – 14 of the 25 best states (56 percent) have NO RTW law and that allows millennials to have a better shot at a brighter future.
• RTW – Only 11 of the 25 best states (44 percent) are RTW states.
See previous stories in this series:
Tragically, the research study by WalletHub (a financial services firm providing insights on a diverse variety of community subjects) notes that “...millennials are at once the most popular and unpopular generation alive, soon to be the largest, too, giving them a huge influence on American culture and consumption.
“And yet, despite their trillion-dollar purchasing power and higher educational attainment, millennials are economically worse off than their parents.”
Why is this?
“... Millennials have come of age and entered the workforce in the shadow of the Great Recession, which has significantly reduced their job prospects and earning potential for decades to come. By one estimate, millennials today earn 20 percent less than Baby Boomers (parents 50-71) did at the same age.”
RTW = NEGATIVE IMPACT ON MILLENNIALS
The research is clear: in RTW states, the impact of this law on millennials’ job prospects and long-term earning power is severe. A NO vote on Prop A on Aug. 7 will at least keep Missouri from getting any worse than it already is at number 30 of the 50 states.
ABOUT THE STUDY
The WalletHub state rankings are based on 30 critical topics in five key metrics: 1) Affordability, 2) Education and Health, 3) Quality of Life, 4) Economic Health and 5) Civic Engagement. The study considered individuals born between 1981 and 1997.
The metrics ranged from share of millennials to millennial unemployment, cost-of-living, home ownership, health, medical issues to millennial voter-turnout.
Sources for the report include the Census Bureau, Department of Housing and Urban Development, Council for Community and Economic Research, Centers for Disease Control and Prevention, United Health Foundation, TransUnion, Corporation for National and Community Service, Indeed, Child Care Aware of America and WalletHub research.
WalletHub’s data and charts are frequently referenced in news articles in Bloomberg News, The Wall Street Journal, Fox News, USA Today, Forbes, Yahoo, St. Louis Post-Dispatch and The New York Times
VOTE ‘NO’ ON PROP A
Missourians will have a chance on Aug. 7 to defeat RTW by voting NO on Prop A, sending a clear message to Missouri lawmakers that we don’t want to join the ranks of Mississippi, Alabama, Arkansas and other states where working people of all ages can’t earn a fair return on their work, but where the wealthiest 1% and their corporate lobbyists use this anti-worker law to enrich themselves.