Whither the Dream?

Census report shows financial independence eludes many millennials

At one time we all pretty much counted on what we call the American Dream. You work hard, you get ahead and your children have a shot at doing even better than you did.

That was the way things worked for generations. Especially with immigrant families, where it was not uncommon to see the children of janitors and sweatshop workers become doctors, lawyers and business owners. But the dream wasn't just about college and professional status. There were plenty of opportunities in the blue-collar sector as well. Factory workers could count on a job for life and see their children work alongside them, maybe even rise into management. But things have changed.

This week the U.S. Census Bureau released a report examining the economic lives of so-called “millennials” who range in age from 18 to 34.

A third are living with their parents. More than 40 percent have student debt. Fewer than one-third are financially independent of their parents by age 21. Many college graduates cannot find a job in their field. Many high school grads cannot find a job outside the low-wage service sector.

The millennials still believe education is key to success and they want financial stability. For about half of them the dream is working. For the other half it's still just a dream. So what can be done? The most important thing is creating not just jobs—we have plenty of minimum-wage positions out there—but higher-paying jobs. Professional and manufacturing jobs.

The kind that help you move up, move out and build a life. Opportunity. That was one of the cornerstones of President Donald's Trump's campaign. It's a promise we hope he keeps. It's a promise we hope lawmakers, by putting aside their partisan bickering, can embrace and help him keep.