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Young Americans Enjoying the Fruits of the Trump Economy

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President Donald J. Trump applauds and waves as he acknowledges crowds waiting on the flight line after disembarking Air Force One Wednesday, Aug. 21. 2019, at Louisville International Airport in Louisville, KY. (Official White House Photo by Shealah Craighead)

Americans aged under 35 are happier with their paychecks now than they have been since 2011. The Wall Street Journal’s Lauren Weber reports:

American workers under 35 report being happier with their paychecks than people over 55 for the first time since at least 2011, according to a new report from the Conference Board, a business-research organization that polls U.S. employees about workplace satisfaction.

Overall, the share of workers satisfied with their paychecks rose to 46.4% in 2018, from 43% in 2017, an increase that mirrors federal data showing that wage growth accelerated in 2018. The biggest leap came from millennials and Generation Z, whose enthusiasm for their compensation shot from 36% in 2017 to nearly 46% a year later.

The job surge under President Trump has reached all the way down into the market for summer jobs for teenagers. This summer saw the lowest unemployment rate for teens since 1966. That’s a lot of ice cream scooped, lawns mowed and shelves stocked.

Americans are enjoying a trifecta of accelerating wage growth, low unemployment, and strong consumer spending. If you have a child or grandchild enjoying their first “real” job, be sure to impress upon them the benefits of saving some of that money, and the impact that the power of compounding could have on their lives if they start now. Too many Millennials have no savings. That must change, because it’s never too early to begin preparing for your retirement life.

Originally posted on Your Survival Guy. 

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.

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