Some Interesting Facts About The Millennial Generation

The Millennial Generation seems to be an interesting topic that is sparking interest among many these days. The Great Depression affected many individuals from investing less to pursuing more conservative strategies for investing their money throughout their lives. Some interesting facts as listed below, may suggest that the Great Recession may impact the investment behavior and strategies for saving earlier among Millennials. Only time will tell on the true impact.

As I continue my own personal research on this significant topic of how Millennials will shape our economy for decades to come, I thought sharing the below facts would shed some light on "Why"!

Millennials and the economy

• $1 trillion in student dept. [Bloomberg]
• The average member of Gen Y carries $45 000 in debt. [PNC Financial Services]
• Unemployment rate of 16.3% [Generation Opportunity]
• 40% of Millennials said their stress had increased last year [American Psychological Association]
• Just 6 in 10 Millennials have jobs, half are part-time [Harvard University]
• 284,000 American college graduates working in minimum-wage jobs in 2012. [Wall Street Journal]
• 48% of employed college graduates work in jobs that don’t require a four-year degree. [The Center for College Affordability and Productivity]
• 50% do not believe that Social Security will exist when they reach their retirement age. [iOme Measure of Millennials]
• Their average incomes have fallen 8% since the recession began in 2007. [Bloomberg]
• 63% know someone who had to move back home because of the economy. [Pew Research]
• Median net worth fell 37% between 2005 and 2010. [U.S. Census]
• Average student carries $12,700 in credit-card and other kinds of debt. [The Daily Beast]
• Nearly a third have put off marriage or having a baby due to the recession. [Pew Research]
• 88% of millennials are optimistic about finding a job. [Millennial Branding & Beyond.com]
• 45% believe a decent paying job is a “privilege”. [Telefonica]
• Over 63% of Gen Y workers have a Bachelor’s Degree. [Millennial Branding / PayScale]
• Median salary across Gen Y is $39,700. [Millennial Branding / PayScale]

Millennial values

• 81% have donated money, goods or services. [Walden University and Harris Interactive]
• 75% see themselves as authentic and are not willing to compromise their family and personal values. [Bentley University’s Center For Women And Business]
• On track to become the most educated generation in American history. [Pew Research]
• 61% of millennials are worried about the state of the world and feel personally responsible to make a difference. [Huffington Post]
• 65% of Millennials say losing their phone or computer would have a greater negative impact on their daily routine than losing their car. [Zipcar]
• 44% of Millennials say that marriage is becoming obsolete, compared to 35% of Boomers who feel the same way. [Pew Researh]
• 39% of Millennials have a tattoo. [Pew Research]
• 33% of Millennials live in cities and 14% live in rural environments. [Pew Research]
• More tolerant of races and groups than older generations (47% vs. 19%), with 45% agreeing with preferential treatment to improve the position of minorities. [US Chamber of Commerce]