The truth about millennials in New York City

The economy today has been hard on young adults. A new report from New York City's comptroller shows just how much recent economic trends have hampered prospects for young Americans, leaving them with reduced  income and employment in less remunerative industries, despite having more education than previous generations.

The report, which focuses on young adults in New York, finds that they are more likely to work in retail and food service than they were in 2000, and less likely to work in finance. They're making an average of nearly $6,000 less than young workers were at the turn of the millennium, adjusted for inflation. And they're more likely to be living with their parents.