More than one-in-five (21 percent) of U.S. Millennial parents is impoverished, with rates of poverty among young Americans expected to expand rapidly as this demographic faces declining wages, vast student debt and an increasing number becoming parents in the coming years.

Millennial parents face a particularly high exposure to poverty given that Millennials (young Americans between 18 and 34 years of age) face an unemployment rate that is over 40 percent higher than the national average and are the first generation in modern times with higher poverty rates and lower incomes than the preceding two generations of Americans.

Childless Millennials face a 16 percent rate of poverty, while 21 percent of Millennial parents are impoverished. Both rates of poverty have increased dramatically since 2000, according to the Young Invincibles report, “Finding Time: Millennial Parents, Poverty, and Rising Costs.”

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