Archive for the ‘Millennials’ Category

Why some millennials are fleeing the cities…

October 16, 2019

In a prior post, we reported  that census numbers are showing signs that urban millennials are starting to flee to the suburbs … and beyond.

According to the WSJ …

For the fourth consecutive year, U.S. census figures have shown that thousands of millennials and younger Gen Xers are leaving big cities.

Since 2014 an average of about 30,000 residents between 25 and 39 have left big cities annually.

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Not exactly a groundswell … but, perhaps, an early indicator of the “next new trend for workers with mobile jobs: moving to a small town to improve our quality of life.”

A commentary in the weekend WSJ breathed some life into the trend…

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Millennials going suburban?

September 27, 2019

That’s what the WSJ concludes based on recently released census data.

Specifically …

“Large U.S. cities lost tens of thousands of millennial and younger Gen X residents last year.

The sustained declines signal a sharp reversal from the beginning of the decade, when young adults flooded into cities and helped lead an urban revival.

New York, Chicago, Houston, San Francisco, Las Vegas, Washington and Portland, Ore., were among those losing large numbers of residents in the 25 to 39 age group.”

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So, what’s going on?

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More Millennials than Baby Boomers … bad news for capitalism.

April 28, 2016

Let’s connect a couple of dots today.

Noticed the headline: “Millennials overtake Baby Boomers as America’s largest generation.”

That’s right, Millennials (ages 18 to 34) have surpassed Baby Boomers (ages 51 to 69) as the nation’s largest living generation, according to population estimates released by the U.S. Census Bureau.

The Baby Boomer generation peaked at 78.8 million in 1999.

The Millennial generation – which now numbers 83.1 million — continues to grow as young immigrants expand its ranks.

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So, what’s that demographic shift have to do with capitalism?

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Millennials: Poets or Quants?

November 19, 2015

Not so fast.

According to the Washington Post, ETS (the College Board folks) analyzed the results of a test given by the Organization for Economic Co-operation and Development (OECD).

The test was meant to assess adult skill levels in 3 areas: problem-solving, literacy and “numeracy”..

ETS broke out the numbers for U.S. millennials, defined as people 16 to 34 years old..

The vast majority of American test-takers lacked a high school degree

The bottom line: in problem solving, U.S. millennials second from the bottom … edging out Poland,

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* * * * * *

Of course, problem solving is a blend of quant skills (numeracy) and language skills (literacy).

How did our millennials stack up as poets and quants?

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Millennials: Poets or Quants?

March 16, 2015

Not so fast.

According to the Washington Post, ETS (the College Board folks) analyzed the results of a test given by the Organization for Economic Co-operation and Development (OECD).

The test was meant to assess adult skill levels in 3 areas: problem-solving, literacy and “numeracy”..

ETS broke out the numbers for U.S. millennials, defined as people 16 to 34 years old..

The vast majority of American test-takers lacked a high school degree

The bottom line: in problem solving, U.S. millennials second from the bottom … edging out Poland,

image

* * * * * *

Of course, problem solving is a blend of quant skills (numeracy) and language skills (literacy).

How did our millennials stack up as poets and quants?

(more…)

Millennials amped about 2016 election, but …

February 6, 2015

Fusion.net surveyed 1000 people aged 18-34 about everything from politics to dating.

One finding: The millennials are say they’re engaged ahead of the all-important 2016 election.

 

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That’s a good thing, except …

One question revealed how alarmingly uninformed they  are about politics …

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Nums: More Millennials still living with parents … huh?

August 6, 2013

A recent Pew survey has captured a lot of headlines claiming that an increasing percentage and number of Millennials to move back with mom and dad due to the bad economy, rising college enrollments and declining marriage rates.

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The headlines are technically true but, in my opinion, are very misleading.

Here’s why …

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Bummer: A lost generation?

December 12, 2012

Economist Robert Samuelson paints a pretty bleak picture in an op-ed Is the economy creating a lost generation?

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The essence of his opinion piece:

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Hey, Millennials: Lower your expectations … say, what?

July 30, 2012

Couple of articles caught my eye in the past couple of days that together have me scratching my head …

First, an HBR blast which argued that the best way to reduce stress is to lower your expectations.

Don’t expect much out of life, your friends & family or your co-workers.

If you don’t expect much, you won’t be disappointed and your stress level will be kept in check

Say, what?

Then came a Newsweek article about the economic  jam Millennials are in … with student loans, a bad job market, etc.

Started with an interesting point:

Median net worth of people under 35 fell 37 percent between 2005 and 2010; those over 65 took only a 13 percent hit.

The wealth gap today between younger and older Americans now stands as the widest on record.

The median net worth of households headed by someone 65 or older is $170,494, 42 percent higher than in 1984

The median net worth for younger-age households is a paltry $3,662, down 68 percent from a quarter century ago.

OK, reason for the Millennials to despair, for sure.

And, the proposed  prescriptions?

There’s a  growing notion among economists that the new generation must lower expectations.

For example, the  millennial generation shouldn’t set its sights on homeownership … “because it’s going to be out of reach for so many of them.”

They are understandably more amenable to  government-mandated income redistribution … since so few young people pay much in the way of taxes.

All I can say is: YIPES.

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