PARIS - The middle class is getting squeezed and it is the millennial generation above all that is bearing the brunt, the Organisation for Economic Cooperation and Development said, urging action to help households struggling with the rising cost of eduction and housing as incomes stagnate.
If 70 per cent of the baby boomers born after World War II were part of the middle class in their twenties, for millennials - those aged 17-35 - it has fallen to 60 per cent. But the report, titled"Under Pressure: The Squeezed Middle Class," found that middle class incomes have barely grown, in both relative and absolute terms in most of the OECD countries.
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