Being born 20 years before an economic boom means you're more likely to have higher wages for years. Based on a Bloomberg View article by Peter Orszag.

1. BORN IN 1988?
SORRY.
By Peter Orszag
SORRY.
1988?
BORN IN
Based on a Peter Orszag Article on BloombergView

2. IT’S BAD LUCK TO BE BORN
20YEARS BEFORE
ATIME OF HIGH UNEMPLOYMENT

3. IT’S BAD LUCK TO BE BORN
20YEARS BEFORE
ATIME OF HIGH UNEMPLOYMENT
IT CAN…
affect your income as you enter
the workforce (naturally)

4. IT’S BAD LUCK TO BE BORN
20YEARS BEFORE
ATIME OF HIGH UNEMPLOYMENT
IT CAN…
affect your income as you enter
the workforce (naturally)
keep earnings relatively low

5. IT CAN…
affect your income as you enter
the workforce (naturally)
keep earnings relatively low
chip away at health & happiness
…for a lifetime
IT’S BAD LUCK TO BE BORN
20YEARS BEFORE
ATIME OF HIGH UNEMPLOYMENT

6. WHENYOU
ENTER
THE WORKFORCE
A 1% RISE INTHE
UNEMPLOYMENT RATE…
…REDUCESYOUR
WAGES BY 6% - 7%

7. ANDTHE REDUCTION
PERSISTS
(THOUGH IT DIMINISHES SOMEWHAT OVERTIME)
A 1% RISE INTHE
UNEMPLOYMENT RATE
AT GRADUATION…
…REDUCESYOUR
WAGES BY 2.5%
15 YEARS LATER

8. THIS CAN MAKE A
BIG DIFFERENCE
FOR MEMBERS OFTHE
SAME GENERATION
BORN JUST
A FEW YEARS APART

9. THIS CAN MAKE A
BIG DIFFERENCE
FOR MEMBERS OFTHE
SAME GENERATION
BORN JUST
A FEW YEARS APART
Consider a person born in 1988
!

10. THIS CAN MAKE A
BIG DIFFERENCE
FOR MEMBERS OFTHE
SAME GENERATION
BORN JUST
A FEW YEARS APART
Consider a person born in 1988
who graduated in 2010
when there was 9.6% unemployment…

11. THIS CAN MAKE A
BIG DIFFERENCE
FOR MEMBERS OFTHE
SAME GENERATION
BORN JUST
A FEW YEARS APART
Consider a person born in 1988
who graduated in 2010
when there was 9.6% unemployment…
…with someone born in 1984
!

12. THIS CAN MAKE A
BIG DIFFERENCE
FOR MEMBERS OFTHE
SAME GENERATION
BORN JUST
A FEW YEARS APART
Consider a person born in 1988
who graduated in 2010
when there was 9.6% unemployment…
…with someone born in 1984
who graduated in 2006
when there was 4.5% unemployment

13. THIS CAN MAKE A
BIG DIFFERENCE
FOR MEMBERS OFTHE
SAME GENERATION
BORN JUST
A FEW YEARS APART
The person born in 1988 is unlucky
with 30% - 35% lower wage at graduation

14. THIS CAN MAKE A
BIG DIFFERENCE
FOR MEMBERS OFTHE
SAME GENERATION
BORN JUST
A FEW YEARS APART
The person born in 1988 is unlucky
with 30% - 35% lower wage at graduation
After 15 years the person born in 1984
is expected to earn roughly 13% more

15. Similarly, the class of 1982
(a peak unemployment year)
earned $100k less over 20 years
THIS CAN MAKE A
BIG DIFFERENCE
FOR MEMBERS OFTHE
SAME GENERATION
BORN JUST
A FEW YEARS APART

16. THIS CAN MAKE A
BIG DIFFERENCE
FOR MEMBERS OFTHE
SAME GENERATION
BORN JUST
A FEW YEARS APART
Similarly, the class of 1982
(a peak unemployment year)
earned $100k less over 20 years
…than did similar students
in the class of 1988,
(a peak employment year)

17. SINCETHE BUSINESS CYCLE WILL NEVER BE ELIMINATED
WHAT CAN YOU DO
TO PROTECTYOURSELVES ANDYOUR CHILDREN?

18. SINCETHE BUSINESS CYCLE WILL NEVER BE ELIMINATED
WHAT CAN YOU DO
TO PROTECTYOURSELVES ANDYOUR CHILDREN?
BE LUCKY:
Be born 20 years before
an economic boom
(rather than a bust)

19. SINCETHE BUSINESS CYCLE WILL NEVER BE ELIMINATED
WHAT CAN YOU DO
TO PROTECTYOURSELVES ANDYOUR CHILDREN?
BE LUCKY:
Be born 20 years before
an economic boom
(rather than a bust)

20. SINCETHE BUSINESS CYCLE WILL NEVER BE ELIMINATED
WHAT CAN YOU DO
TO PROTECTYOURSELVES ANDYOUR CHILDREN?
PURSUE
EDUCATION:
It tends to protects
you from the lasting
effects of elevated
unemployment

21. SORRY.
Based on a Peter Orszag Article on BloombergView
1988?
BORN IN