Tags: generation | x | recession | worth

Generation X Takes Biggest Hit on New Worth in Recession

Tuesday, 26 Jun 2012 10:16 AM

By Patrick Hobin

The millennials may be unemployed and boomers are putting retirement on hold, but the Generation Xers are seeing their net worth get walloped, The Fiscal Times reported.

A new Census report found that people between 35 and 44 saw a 59 percent decline in median household net worth between 2005 to 2010, the largest drop of all age groups.

“Even though the 65 and over population lost more net worth in absolute terms, the younger age groups were disproportionately affected in terms of the share of net worth lost,” the Census report said. “The group with the largest decrease in percentage terms was the 35- to 44-year-old group, whose net worth decreased by 59 percent.”

While baby boomers, those born between 1946 and 1964, total about 79 million Americans, Gen X encompasses Americans born between 1965 and 1980 and is relatively small at about 46 million.



© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Arizona's Sheriff Joe Picks Patriots; Inmates to Get Popcorn

Saturday, 31 Jan 2015 23:21 PM

The Arizona lawman who bills himself as America's toughest sheriff predicts the New England Patriots will win the Supe . . .

Los Angeles, America's Homeless Capital, Counts Its Down-and-Outs

Saturday, 31 Jan 2015 21:46 PM

Notebook in hand, Ana Alvarez walked along the streets of Skid Row, the downtown Los Angeles district that's sometimes c . . .

Police Probing Alleged Corruption in Nevada Legislature

Saturday, 31 Jan 2015 19:59 PM

Las Vegas police have confirmed they are investigating allegations of corruption in the Nevada Legislature involving an  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved