That's the normal cycle of things. Look back at our economic history going back to the 1960s. Recessions in 1960, 1969, 1973-1975, 1980, 1981-82, 1990-91, 2001, 2008, 2020 (self-induced COVID recession). Recessions happen like clockwork every 7-10 years. News flash, there will be another recession in the second half of the 2020's, and another in the 2030s as well.
Millennials act like they are the first to experience these things. My parents, Boomers, started out in a crappy 1970s economic environment with double digit mortgage rates, gas lines, and an America reeling from the aftermath of the Vietnam War, a war in which my dad fought in.
Gen Xers have lived through everything Millennials have and more going back to the first Desert Storm. You really don't see Xers crying about these things much though.