Young New Yorkers Hurt By Falling Wages

June 25, 2012 | | New York Post |

The future of New York’s middle class is at risk.

Not only is the Great Recession pushing formerly middle-class New Yorkers down the economic ladder — it’s crushing the next generation of would-be middle-income earners.

New York’s twenty-somethings are struggling to secure that first job to start a path to the middle class. Youth under 34, meanwhile, are so burdened by debt they cannot afford to aspire to the house with the white picket fence.

“It used to be that the challenge, when we talked about [young] people, was, ‘How are they going to get ahead?’” said Tamara Draut, vice president at public-policy research firm Demos. “But today it’s, ‘How are they even going to get started?’”