If we wanted to talk about generational something, let’s talk about the fact that adults born in the 1990s — an even split between the youngest Millennials and oldest Gen Zers — have significantly more in common than we think.
On an anecdotal level, I know many of my friends, coworkers, even my younger sibling, technically fall into the Gen Z category and we get along just fine. In the big picture though, we both came of age during hard economic times, like Great Recession or the COVID-19 pandemic.
Both generations grew up using new technology and have watched it evolve before our eyes — it really doesn't matter that some of us remember AOL Instant Messenger while others have been using Snapchat since high school. We know how to use it, how it shapes our lives and the chore of helping parents or older coworkers reconnect to the WiFi.
And finally, people born around the 1990s, whether they are Gen Z or Millennials, have about 50% fewer assets than what the Federal Reserve expected their households to have at this point.
“They were pretty far behind where we would expect them to be in terms of wealth,” Ana Hernandez Kent, a senior researcher at the Federal Reserve in St. Louis told TMRW, citing the most recent data available from 2019. Yes, I called the Fed for this rage op-ed ostensibly about jeans.
“Thirty-somethings are trying to hold on to what those skinny jeans represented pre-pandemic: A time when they were at their peak, when they knew what was coming next and there wasn’t all of this uncertainty.”
Dawnn Karen, fashion psychologist
The measurement, she explained, includes assets like house value and vehicles, 401Ks, other retirement accounts and stocks (minus any debts like credit cards and student loans). She said that, on average, those born in the 1990s (now in their 20s) only have about $7,600 in wealth. They would’ve normally expected people at this age to have $15,000 based on previous generations.
“That percentage is really shocking but it's not insurmountable, particularly given that a lot of them are more highly educated (and) that it's a diverse cohort,” she said. “So really it's a wait and see.”
Cool cool cool, so we're all struggling together, but may someday bounce back!
In a recent Washington Post article, a millennial fashion psychologist named Dawnn Karen, who is “not giving up skinny jeans for anyone,” said millennials are looking for consistency as we navigate between young adulthood and middle age.
“Thirty-somethings are trying to hold on to what those skinny jeans represented pre-pandemic: A time when they were at their peak, when they knew what was coming next and there wasn’t all of this uncertainty,” she told the paper.
Fine, sure, I get that. My "last hot year" turned out to be basically the opposite. I straight up developed a system of day pajamas and night pajamas, and I probably set my own record for "days without showering" and "days without leaving my apartment." While I'm grateful that I was lucky enough to not be personally effected by COVID-19, it's been a pretty tough year all around.
But that doesn't mean we need to freak out when the younger generation decides they want to wear wide-leg jeans. Let them live! They have to learn. We know that too-long flared jeans will drag and rip and get soaked in the rain and snow. We know that it's very hard to look sexy in mom jeans (but they are comfy!). The great news is that what they put on their bodies is their business and what you personally choose to wear is yours.
We actually have much more in common as millennials and Gen Z than we have differences, and besides, we basically just make up generations as we see fit.
So the next time you see someone identify themselves as a “girlboss” on their overly filtered Instagram or, on the opposite end of the spectrum, you see someone in tiny sunglasses with ripped mom jeans and bright white dad sneakers, resist the urge to groan and remember the old phrase: empowered women empower women.
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May 19, 2021 at 03:23AM
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The skinny jeans debate is stupid. Here's why you should just wear what you want - TODAY
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