In June 1954, LIFE magazine published an article titled “The Luckiest Generation”:
Young people 16 to 20 are the beneficiaries of the very economic collapse that brought chaos almost a generation ago. The Depression tumbled the nation’s birth rate to an all-time low in 1933, and today’s teenage group is proportionately a smaller part of the total population than in more than 70 years. Since there are fewer of them, each in the most prosperous time in U.S. history gets a bigger piece of the nation’s economic pie than any previous generation ever got. This means they can almost have their pick of the jobs that are around. . . . To them working has a double attraction: the pay is good and, since their parents are earning more too, they are often able to keep the money for themselves.
‘The Luckiest Generation’: Teenagers in the ’50s

Jere Reid Jr., 17, who bred chinchillas, held one valued at $3,000. Nina Leen The LIFE Picture Collection/Shutterstock via

A young sales girl holding up a blouse to a store customer. Nina Leen The LIFE Picture Collection/Shutterstock via

A young investor, David Lenske, 17, having bought four shares of A.T.&T., talked with a banker. Nina Leen The LIFE Picture Collection/Shutterstock via

Pay in trade was taken by Margaret High, 17, who worked in a music store and spent her salary on records. Nina Leen The LIFE Picture Collection/Shutterstock via

The Luckiest Generation Nina Leen The LIFE Picture Collection/Shutterstock via

Rada Alexander, 19, a bookkeeper, earned $200 a month in a job she got with an auto firm after graduation. Nina Leen The LIFE Picture Collection/Shutterstock via

An electrician, Jack Harris, 16, still in school, picked up good pay doing part-time repair jobs. Nina Leen The LIFE Picture Collection/Shutterstock via

The prosperous pay-off of after-school jobs brought Mike Sweeney and Harold Riley (right) with Pat Marsh (left) and Nita Wheeler, all 17, to Carlsbad’s Red Barn restaurant, a favorite party spot. Nina Leen The LIFE Picture Collection/Shutterstock via