This is a recent chart from WSJ which shows that millennials while carefree and internet savvy faces some difficult problems vs the older generations. They have more student debt and would likely earn less than their parents.
This is a reflection of the higher cost of education as well as pay stagnation. As most types of work get commoditized, we see that only 50% of millennials will get the creative work and get to make more money than their parents. This ratio would continue to go down... ...