Millennials’ Promotions Stall as New Firms’ Hiring Eases

Success stories like Trevor Lynn’s or Xiao Wei Chen’s are going to get rarer as older businesses overshadow start-ups in U.S. job creation.

Lynn, 23, is chief marketing officer at Social Tables in Washington. He joined the hospitality software startup in August 2012, and now manages a team of 12. Chen, 27, is chief operating officer at Homejoy in San Francisco. He started at the cleaning-service company last year as its third hire.