74 Of The Most Interesting Facts About The U.S. Millennial Generation.

These stats shed light on how the economy has affected the lives of Gen Y, their values, how they view the workplace, their consumer and investing habits, political views and entrepreneurial spirit. Sadly, our Australian Gen Y children aren’t far behind.Here are a few listed by category:Millennials and the economy.    

    •    The average member of Gen Y carries $45,000 in debt. [PNC Financial Services]
    •    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]
    •    50% do not believe that Social Security/Pension will exist when they reach their retirement age. [iOme Measure of Millennials]
    •    63% know someone who had to move back home because of the economy. [Pew Research]
    •    Average student carries $12,700 in credit-card and other kinds of debt. [The Daily Beast]
    •    88% of millennials are optimistic about finding a job. [Millennial Branding & Beyond.com]

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]
    •    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]
    •    More tolerant of races and groups than older generations (47% vs. 19%)

Millennial values.

    •    70% have “friended” their managers and/or co-workers on Facebook. [Cisco]
    •    71% don’t always obey social media policie at work. [Cisco]
    •    Connected to an average of 16 co-workers on Facebook [Millennial Branding / Identified.com]
    •    15% of Gen Y’s are already managers. [Millennial Branding / PayScale]
    •    56% of Gen Y’s won’t work at a company if they ban social media access. [Cisco]
    •    69% believe office attendance is unecessary on a regular basis. [Cisco]
    •    Average tenure for Gen Y is 2 years (5 for Gen X and 7 for Baby Boomers). [Millennial Branding / PayScale]

Millennials as entrepreneurs.

    •    35% of employed Millennials have started their own business on the side to supplement their income . [Iconoculture]
    •    90% say being an entrepreneur is a mindset instead of the role of a business owner [Millennial Branding / oDesk]
    •    46% of Gen Y wants to start a business in the next 5 years. [Employers Insurance]
    •    54% either want to start a business or already have started one. [Kauffman Foundation]
    •    More than a quarter (27%) are already self-employed.[US Chamber of Commerce]

Millennials as consumers & Investors

    •    By 2015, their annual spending is expected to be $2.45 trillion and by 2018, they will exclipse boomers in spending power at $3.39 trillion. [Oracle]
    •    46% count on social media when buying online, but 55% of Gen Y share bad experiences. [YouGov]
    •    41% of millennials have no landline at home and rely on their cellphones for communication. [Pew Social Trends]
    •    48% of Millennials who say word-of-mouth influences their product purchases more than TV ads. Only 17% said a TV ad prompted them to buy. [Intrepid]
    •    41% of Millennials have made a purchase using their smartphone. [Edelman Digital]
    •    32% of Millennials say they don’t like advertising in general, compared to 37% of the general population. [Experian Simmon]
    •    77% participate in loyalty reward programs. [Aimia]
    •    44% are willing to promote products or services through social media in exchange for rewards. [Aimia]
    •    84% report that user generated content on company websites at least somewhat influences what they buy [Bazaarvoice]                                                                       •    84% of Gen Y are seeking advice about finance. [Merrill Lynch]

Source Dan Schwabel

 

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