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

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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.



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