Generation X did have somewhat of a raw deal. Most Gen X'ers did not have Boomer parents. Gen X is a comparatively smaller generation for 2 reasons. This is also when Gen X gets overlooked in a lot of generational discussions.
1. The women of prime fertile age during a good portion of X's birth years were the women born between 1935-1945, a smaller generation due to The Great Depression and World War II.
2. During a good portion of Gen X birth years, there were economic problems, such as the oil shocks of the early 1970s, and the stagflation/recession of the Gerald Ford and Jimmy Carter years. This reduced birth rates.
Millennials started being born in the early 1980s, as the U.S. economy was in an upswing during the Reagan presidency and the Baby Boomer generation were the major generation of women of prime fertility. Millennials are a larger generation. Millennials got a worse deal than Gen X as I'll illustrate below.
Generation X had two timing advantages. A good portion of Gen X graduated into an economy in an expansionary phase during the mid to late 1990s. Also, college costs in the 1980s/1990s were lower than the college costs for Millennials in the 2000s/2010s.
Millennials are a lost generation, especially the first half of the generation born during the 1980s. Most of the first half of the Millennials graduated into the 2008-2012 time period when the economy was in bad shape or they were last in, first out layoffs in 2008.
They’re facing a second once-in-a-lifetime downturn at a crucial moment.
www.theatlantic.com
Millennials have been walloped by 2008 and COVID recessions.
Right now, there are many 30 somethings languishing due to those two recessionary periods.
The success of most Millennials will depend upon the inheritances they get from Boomer parents.