Millennials, already prone to delay milestones like careers and marriage, are putting them off even further as pessimism about their economic outlook causes them to downsize their expectations. A recent Los Angeles Times analysis of recent surveys depicts a “Generation Vexed” who, in their words, now plan to “take smaller steps” and who are resigned to the fact that “you can’t reach for the stars right now.” For the first time in three decades, Gallup shows that fewer than half of Americans believe the next generation will have a better life. As a result, according to a Generation Opportunity poll, nearly three… Read More
Categories: Training IndustryMillennials were first known as the “Echo Boom” because they were an echo of the Baby Boomers. As Boomers reached child-bearing age, their fertility rates (births per woman) were not particularly high, but the sheer size of the Boomer generation ensured that their offspring, the Millennials, would echo the population boom of their parents. Now that Millennials are reaching child-bearing age, fertility rates are shrinking even further. A recent Advertising Age analysis of census data shows that birthrates for women in their 20s declined more in the last two years than any time in the last three decades. In fact, the only… Read More
Categories: Baby Boomers, Training Industry, WomenAs the leading edge of the Millennial generation dips its toes into investing, they are more leery of the stock market than previous generations. A survey conducted by MFS Investments finds that Millennials are just as likely to keep their investment dollars in cash instruments, like savings accounts and money market funds, as they are to invest in stocks – a more conservative approach than older generations and a more cautious allocation than is normally recommended for young investors. Millennial fears about the stock market stem from the 2008 crash and recession as well as the fact that the market… Read More
Categories: WorkSelling to Millennials poses a special set of challenges, especially for older generations. But those marketing and selling cars to Millennials have an even higher bar to clear: Millennials are just not that interested in driving or owning automobiles. According to the New York Times, less than half of teenagers eligible to drive had obtained a license in 2008, down from two thirds in 1998. The number of twenty-somethings with a driver’s license has also dropped. And only 27% of new car buyers are in their twenties or early thirties, down from 38% a generation ago. As with their reluctance… Read More
Categories: Blog, Recession EconomyMillennials have had less disposable income in their 20s and 30s than the Boomers and Xers before them did, according to an analysis by AdAge. According to figures derived from the Bureau of Labor Statistics, both Millennials and Xers have spent more on housing, health care, and education when between the ages of 25-34 than the Boomers did at the same age. In the case of Millennials, those higher costs combined with a recessionary economy have curtailed their ability to spend on everything else. In 2010 dollars, Millennials (during ages 25-34) have spent $21 billion more on rent than Boomers… Read More
Categories: Baby Boomers, Blog, Generation Y / Millennials, Generations, Recession Economy