Center for American Progress shares its analysis of the "The State of Youth in the U.S. Labor Market." 

Though more youth are educated and pursuing higher education, giving them a leg up in the labor market, the cost of education has skyrocketed. Millennials, who today are 18 to 34 years old, make 43 percent less than what Gen Xers made in 1995—when they were under 35 years old—suggesting that labor market conditions still have some slack, despite low unemployment and gross domestic product growth. For those who aren’t college-educated, the situation worsens. According to a Pew Research Center study, the earnings disparity is rising among young adults based on their level of educational attainment—specifically, between high school graduates who attend institutions of higher education and those who do not.