Record-Breaking Market Indexes not Lifting Millennials
Posted On March 14, 2013
As the stock market indexes reach unprecedented heights, Millennial employment and wealth are still stuck at recession like levels. Despite the emerging “green shoots” in recent economic news, including declining overall unemployment, Millennial unemployment has been stuck around 11%, with a “real” rate of about 16% (including those who are not actively looking for work).
This disparity, observers suggest, will only worsen the disconnect and distrust between the Millennial generation and the financial markets, as prosperity, in the Millennials’ view, seems to be available to everyone but them. Without the financial means to participate in the investment economy, they may become more skeptical of its potential to benefit them and resentful of the policies and practices that bring its wealth to others.
On top of the scars left by the Great Recession and financial crisis, the discrepancy between Millennial economic reality and the “adult” economy will be another barrier that financial professionals have to overcome as they try to convince the next generation that the turbulent waters of the markets are safe for swimming.