Are you a Milliennial?
The Millennial generation is a group of people whose ages range from 18-33 who are forging a distinctive path into adulthood. This group is relatively unattached to organized politics and religion, burdened by debt, distrustful of people, in no rush to marry— and optimistic about the future. This group is mostly linked by social media and Technology has a big role how they go about they're daily activities.
Based on new trends is varying markets understanding how Millennials think will become an important tool in truly analyzing how our economies will either flourish or not.
Millennials are the group of people who in another couple of years are going to be the decision makers. What is important however is dealing with their current spending patterns.
For many millennials as soon as they exit college/university they become burdened with school debt as well as find it rather difficult to acquire entry level positions due of a lack of experience, this group has also increased the frequency and length of which they stay home after college. That is they tend to live with their parents longer that previous generations. The rationale for this stems from either their financial inability or unwillingness to buy a property for themselves.
Also many stay at home until it is time for them to get married which in these days is much later than for previous generations, the average age for marriage these days is 26 for women and 29 for men, as opposed to 23 and 26 in 1990; and 20 and 22 in 1960. The priority of many millennials is to build a career first then get married. We all have our own personal views on this matter.
One of the key dangers however faced by millennials are their unabated social trust issues and defiance of the law and legal systems. Millennial males represent the largest prison populations and which may pose a challenge to socialization potentially perpetuating issues of social deviance.
One good thing and probably the most important trait that Millennials possess is their/our view of integration and racial diversity, unlike previous generations we are more accepting of interracial relationships and breaking down the barriers that were established in the post colonial or post slavery era.
As economists studying millennials habits and preferences will become an important tool for market research and business insight. The goal is to ensure that we understand what is going on now in addition to the trends from the past.
#CollegeEconomist
To find the blog by using your browser just search for #CollegeEconomist
Based on new trends is varying markets understanding how Millennials think will become an important tool in truly analyzing how our economies will either flourish or not.
Millennials are the group of people who in another couple of years are going to be the decision makers. What is important however is dealing with their current spending patterns.
For many millennials as soon as they exit college/university they become burdened with school debt as well as find it rather difficult to acquire entry level positions due of a lack of experience, this group has also increased the frequency and length of which they stay home after college. That is they tend to live with their parents longer that previous generations. The rationale for this stems from either their financial inability or unwillingness to buy a property for themselves.
Also many stay at home until it is time for them to get married which in these days is much later than for previous generations, the average age for marriage these days is 26 for women and 29 for men, as opposed to 23 and 26 in 1990; and 20 and 22 in 1960. The priority of many millennials is to build a career first then get married. We all have our own personal views on this matter.
One of the key dangers however faced by millennials are their unabated social trust issues and defiance of the law and legal systems. Millennial males represent the largest prison populations and which may pose a challenge to socialization potentially perpetuating issues of social deviance.
One good thing and probably the most important trait that Millennials possess is their/our view of integration and racial diversity, unlike previous generations we are more accepting of interracial relationships and breaking down the barriers that were established in the post colonial or post slavery era.
As economists studying millennials habits and preferences will become an important tool for market research and business insight. The goal is to ensure that we understand what is going on now in addition to the trends from the past.
#CollegeEconomist
To find the blog by using your browser just search for #CollegeEconomist
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