August 2014 Newsletter
This month I am going to write about the new Millennials. What prompted this interest (and this newsletter) was this
It was written on the white board at our local pool. I posted this picture of it on Facebook and the general consensus
was that this was a profound understanding of 4th July. I liked it because it showed some depth.
So I started thinking about these pretty girls in skimpy bikinis who very efficiently manage our pool - a summer job
Who were they? What made them tick? I also started talking to them more. What I wanted to know was what impact would
they have on the world, give or take twenty or thirty or even forty years into the future when they assumed the
Did you know?
- According to the generation buffs, these are not the people born at the turn of the century; they are the
generation, entering the workplace around the year 2000. They could be born as early as 1980 and they could enter the
workplace anywhere from 1995 through 2002.
- Their number (70 million) is almost as large as the Boomer generation (80 Million) due to the increase in birth
rates during the 1980s and into the 1990s, peaking in 1990.
- The defining influence on their lives is the computer. They entered school and the workplace when using a computer
and the Internet was all they needed to know.
- Because so well educated and technically astute, they have no need to conform. They get their data from many
sources and tend to be suspicious of one mindset or propaganda. They rarely follow blindly; well schooled by the
Internet they invariably ask the reason why.
- They are the luckiest of generations for they have been privileged to live in an age of affordable plenty. They may
have trouble getting a job or paying a student loan, but entertainment and communicating especially via the Internet or
the Smart Phone or Cable has never been easier or cheaper.
- While being the luckiest they are also the unluckiest of generations: They have had to put their "adult"
years on hold. More than a third have moved back in with their parents, and by survey they answer "not yet"
to buying a house, having a child or even getting married. They are waiting for the economy to recover.
- Unemployment for Millennials is up to 18 percent and in the last five years they are the only generation to have
had real wages actually fall. Please note it is this more than any other thing that is causing our economic woes. It is
the young adults who drive an economy, they are the new consumers; they buy the houses, the cars, the gadgets, the RVs,
the Art and the furniture but now they can't because of being underpaid and taxed to the gills, they simply do not
have the money.
- All the same, I read again and again of these young, optimistic people out-creating their setbacks. Two young
friends (granddaughter of my friend) went to university and got degrees but for over two years have not been able to
get jobs in their chosen fields. They have done the odd work thing here and there to pay the bills, but they are now
starting their own business. My friend says, "Hey, can't knock it, they are so happy!"
- At my pool I also met a teacher back from China who was teaching English to Millennials in China and was privileged
to have an interesting and related conversation.
- She described Chinese Millennials as aware that their generation has been dealt an unfair blow due to the
instability of the world economy. They have it a little bit harder financially in China, for in that culture they
are required to become adults supporting an older generation. With the "only one child" policy per
family, this can put a burden on a young son or daughter. But she described her students as diligent and optimistic
as they save and prepare for this adult social responsibility.
- She talked about how she saw first hand how their government encourages small business in China and how many
young adults start their own enterprise. She said that near her university was a thriving throng of little shops,
with yes, some turnover but great life, laughter and energy.
- She talked about the opportunity for those, like herself, who were willing to travel. She had just read of an
opportunity in China where Disney was interviewing young adult Americans. The youngsters may not easily get jobs in
America but if they have a sense of adventure there is a whole world out there that is hiring.
Upbeat, insouciant, non-conformists, team players, and seeing the world from a new perspective; I love these young adults.
After doing this research I, too, look forward to a good future when the Millennials finally assume leadership.
Quote for the Month
Although they are better educated, more techno-savvy, and quicker to adapt than those who have come
before them, they refuse to blindly confirm to traditional standards and time-honored institutions; instead, they
boldly ask "WHY?"
Until next month!
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