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Report on Millennials: Young, Underemployed & Optimistic

Report on Millennials: Young, Underemployed & Optimistic

The Pew Research Center recently released a report including findings from a survey of over 800 young adults, ages 18-34. The survey was conducted in late December 2011 and revealed facts about Generation Y and the workplace. Here are some interesting things I took away from the study’s findings:

The hard economic times have impacted Millennials long-term plans. The report said that 59% of 18-34 year olds took a job they didn’t want just to pay the bills. That includes part-time jobs, but college graduates have also been forced to accept full-time positions unrelated to their college studies due to the recession. Only 30% of 18-34 year olds consider their current job a career. I have read many conflicting articles on this topic. Some experts say that Millennials will settle where others say that Millennials will strive for more– I think that depends on the Gen Y-er.  Either way, it does make sense to me that economic times have impacted Millennials long-term plans.

Education and training have also changed in the recession. 35% of respondents said that they went back to school because the economy was so bad. Among employed 18-34 year olds, less than half (46%) say they have the education and training necessary to get ahead in their job or career, whereas only 27% of the unemployed say they are adequately prepared for the kind of job they want. The study shows that college does make a difference. 69% of young college graduates who are working say that they have the education and training they need to get ahead. Can’t afford a four-year degree or don’t have the time? Check out my recent blog post on 2-year degree programs.

Young adults are more optimistic about the future than their older counterparts. The report revealed that 88% of people ages 18-34 say they either earn enough money now or expect they will in the future, whereas 28% of adults ages 35 and over said they don’t anticipate making enough money in the future.

Do you work with Millennials? What do you think about the study’s findings?

 

Article by Dana Schwartz

Dana Schwartz is a senior studying public relations and management at Syracuse University. She has previous internship experience with a small New York City public relations firm, as a communications intern for the Special Olympics in London, and in healthcare marketing. She is looking forward to starting a career in public relations upon her graduation in May.

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11 comments

  1. Thanks for feedback. I think a lot of Boomers are sypthtaemic to the situation 20somethings are in right now. The article I mentioned, OWS: Why Boomers Don’t Understand the Protests is written by a sypthtaemic Boomer.

  2. You got very nice blog graphic – is it custom made, or maybe some public template? Where can I download it from?
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  3. It’s tough out there for young people. I know… I have a daughter recently graduated from Penn State and son currently attending college. But a positive attitude (and flexibility) goes a long way. My daughter, after a year searching, has finally found a position that is in line with her career path. A positive attitude also goes a long way for older job seekers, as well. I am personally VERY optimistic. When life gives you lemons, make lemonade.
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  4. Gary, I have three late millennial kids. One, no college, is the director of a large civic art exhibition space, married and two kids. One, BA/Moody, MA/in process, works full time at manager level in large global credit union, married, no kids. One, BA/Music Performance (PCC), MA Theology/Talbot, Pastor at SoCal church, married, two kids.

    It can be done.
    DrDeadline recently posted..The Jury Is Still Out – Part Two

  5. I was surprised to read that 88% of young adults are optimistic about their future. It must be the sampling.

    I also do not agree with the idea that one may need to go back to college to learn more to be knowledgeable in their field of interest.

    For most people (in regard to getting a job) the only value of a 2- or 4-year degree is the paper saying you have it.

    Most of what one needs to be effective in their job can be gained from other, less expensive resources, like the computer.
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  6. I’m just made pleased I discovered this web page. Maybe you’d like to place a banner on my blogroll? How can I contact you on private?
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  7. I am wonder why many of our brother were still under employed even though there’s a lot of opportunity given by our government, I think being optimistic is one of the factors to solved this matter but its more on the credibility of an individuals…
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  8. I have a couple of underemployed millennial kids, and they definitely fit right into this demographic of those who have taken a job they didn’t really want just to pay bills.
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  9. I have a couple of underemployed millennial kids, and they definitely fir right into this demographic of those who have taken a job they didn’t really want just to pay bills.
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  10. I know I’ve heard this often: “college graduates have also been forced to accept full-time positions unrelated to their college studies due to the recession.” And it’s no surprise. To my thinking, one of the more powerful bonuses of getting a college degree is the spiritual one. It’s a combination of activity and intent with the purpose of making a way for yourself, making it clear that you will honor your capability and intelligence. But with the recession, the economic challenge of paying for those school loans is pretty daunting.
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