Generational mix-up? Bloomberg Businessweek campaign causes a stir

Generational mix-up? Bloomberg Businessweek campaign causes a stir

Posted On June 20, 2013

The first rule of advertising is to know your target audience. The second rule should be a no-brainer:  don’t actively offend them. Somewhere on the way to being creative Bloomberg Businessweek advertisers seem to have forgotten rule number two. In a “funny if it didn’t happen to you” subscription campaign, the Bloomberg affiliate encourages parents, friends and family members of Millennials to send the young workforce a pithy e-card and a 12-month subscription to Businessweek. Problem is, the e-cards appeared more pithy to the givers than to the intended recipients. What I find particularly odd about this campaign is that… Read More

Categories: Advertising, Generations, Recession Economy

Millennials showing another hint of Mature-like behavior

Posted On June 11, 2013

One of the core theories in generational management is that generational norms exist based largely in response to the world environment during a group’s formative years.  For the older half of the millennial generation (those currently 18 – 34) the rollercoaster economy seems to be making its mark. According to a report in the Los Angeles Times, Millennials are more cautious about debt than is typically expected of twenty somethings. In fact, in the past 12 years, the average debt in young households was reduced by almost half. I was especially interested in the author’s comment that this behavior is… Read More

Categories: Generations, Matures, Recession Economy

Are cynical Xers wearing rose-colored glasses?

Posted On May 21, 2013

Just last week we were talking about how 50% of Gen Xers are confident in their retirement savings. Today, we’re hearing that the confidence may not match up with the bank accounts. The Associated Press reported on the findings of a recent Pew study of the retirement readiness of Boomers and Gen Xers.  While retirees are advised to have enough savings to replace 70% of their income, Gen Xers are on track to replace only 50%.  The report seems to point to the timing of major economic events during the Gen X lifetime – where Boomers largely benefited from the… Read More

Categories: Financial Services, Generations, Recession Economy

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… Read More

Categories: Financial Services, Generations, Recession Economy

Millennials Are Stressed Out

Posted On February 13, 2013

According to a survey for the American Psychological Association (APA) by Harris Interactive, Millennials are the most stressed out generation.  A majority of Millennial adults report symptoms like difficulty sleeping that are usually related to stress. 40% report their stress has shot up significantly in the last year, compared with a third or less of older generations. Millennial unemployment is above 13% and over half of Millennial college graduates are in jobs that do not require a degree, which could account for some of the stress. Not surprisingly, Millennials are most stressed out by work (76%) and money (73%). Close… Read More

Categories: Recession Economy, Training Industry

Out-of-Work Boomers Look for Alternative Careers

Posted On January 15, 2013

Following the Great Recession, most of the conversation about generational unemployment has focused on Millennials, who have the highest numbers out of work. But many Baby Boomers also lost jobs in the recession’s aftermath (second most among generations). Often higher-paid than younger colleagues, they were the first to go in many cases. Many of them have found that late-career unemployment has challenges that are different from being young and jobless. Too young to retire and too experienced for entry-level work, older Boomer workers tend to stay unemployed longer (55 weeks) than the rest of the unemployed (31 weeks). Boomers are… Read More

Categories: Baby Boomers, Entrepreneurship, Recession Economy

Gen X: The Foreclosure Generation

Posted On January 15, 2013

A new study by the St. Louis Fed takes a look at the housing crisis, particularly foreclosures, and finds a mixture of predatory lending and household overreach to blame. The hardest-hit demographic has been Generation X and, according to the Fed, Xers share some of the blame. Generation X has been the most likely to be foreclosed but also the most likely to have overreached. The median age of a foreclosed homeowner is 44. The least likely to be foreclosed: Boomers with a median age of 52. The most surprising finding of the study, though, is that many Xers overreached… Read More

Categories: Home Ownership, Real Estate, Recession Economy

Millennials and Gen X Shunning IRAs

Posted On February 16, 2012

Typically, tax season brings a flurry of interest in IRAs as a tax sheltered way of socking away a few extra bucks for retirement. This year, though, well fewer than half of Millennial and Gen X investors will contribute to IRAs compared with over 70% last year. The sharp drop in interest in IRAs is attributable to economic insecurity. 32% said they were feeling too poor to contribute and 56% said they needed the money for everyday expenses or to pay down debt. 14% cited fears of market volatility and 12% blamed job uncertainty. “Given their economic fears, it is… Read More

Categories: Recession Economy, Work

Recession Formative to Millennials

Posted On February 14, 2012

Given the depth of the Great Recession and its enduring effects on the economy, it’s always seemed likely that it would be a formative experience for Millennials. Formative experiences occur in a generation’s youth and often come in the form of drastic economic and cultural upheavals. The Great Recession fits that description for Millennials and a recent Pew survey confirms that it is shaping their outlook for years to come. According to the survey, Millennials see their own generation as hardest-hit by the downturn. Most other generations agree. Only 20% report themselves “very satisfied” with their economic condition and only… Read More

Categories: Recession Economy

Millennials Slow to Form Households

Posted On May 9, 2012

Millennials have always been slow to reach the milestones of adulthood. As more of them become adults, the age of first marriage and the age of first-time home buying has steadily crept up. Now, the recession has slowed them down even more as they struggle to find jobs and become financially independent. And that is hampering the housing recovery, according to an analysis by the Washington Post. Census data shows that the recession has slowed the rate of formation of new households by 50%, leaving at least 2 million homes unoccupied that might have normally been inhabited (about two thirds… Read More

Categories: Home Ownership, Real Estate, Recession Economy, Training Industry
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