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From Home Furnishing Business
Fast Fact: Millennials Share of U.S. Income Jumps 5% in 4 Years
April 29,
2019 by Laurie Northington in Business Strategy, Industry 
The 2017 Consumer Expenditure Survey issued by the U.S. Bureau of Labor Statistics shows the shift in consumer spending from 2014 to 2017 among the five adult generations as Millennials continue to gain higher incomes and increase their spending.
Gen Xers have experienced the highest mean income (before taxes) over the last four years – topping at $95,168 per household in 2016. Average income for Generation X has increased 12.8 percent from 2014 to 2017.
Although Millennial households earned, on average, 54.2 percent less than Generation X and 28.1 percent less than Baby Boomers in 2017, average income among Millennials has increased 21.1 percent over the last four years.
Percent of total U.S. income is shifting each year in a positive direction for Millennials compared to older generations. Millennials now account for 21 percent of total U.S. income compared to 16.2 percent in 2014.
For a closer look at the numbers, click here.