British millennials still bearing scars of 2008 financial crisis, says research

Long-term wage stagnation and sky-high housing costs have left millennials struggling to buy their own homes. Photograph: Cavan Images/Getty Images

Millennials in the UK are still bearing the “economic scars” of the 2008 financial crisis and are struggling to catch up with the living standards of older groups while their US counterparts have closed the gap, new research shows.

In its annual “intergenerational audit”, the Resolution Foundation compares the fortunes of millennials – born between 1981 and 2000 – with their predecessors, including Generation X, born between 1966 and 1980.