Tag: Millennials

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Working Past 70: Americans Can’t Seem to Retire

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file photo by ArtChick

U.S. seniors are employed at the highest rates in 55 years.
By
Ben Steverman
July 10, 2017, 4:00 AM EDT

More and more Americans are spending their golden years on the job.

Almost 19 percent of people 65 or older were working at least part-time in the second quarter of 2017, according to the U.S. jobs report released on Friday. The age group’s employment/population ratio hasn’t been higher in 55 years, before American retirees won better health care and Social Security benefits starting in the late 1960s.

And the trend looks likely to continue. Millennials, prepare yourselves. Better yet, consider this and this, so you have a choice in the matter when your time comes.

https://www.bloomberg.com/news/articles/2017-07-10/working-past-70-americans-can-t-seem-to-retire

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Move over, millennials: NJ businesses looking at undefined ‘Generation Z’

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file photo RHS

By Dino Flammia June 8, 2017 2:23 AM

Centennials. iGen. The Founders.

Any name you choose, the generation following millennials remains a mystery to those who will end up being their bosses.

But the oldest segment of Generation Z — somewhere in the age range of 17 to 21 years old — is hitting the workforce in the fashion of full-time employment and internships. Businesses and trend followers hope to get a better feel for what they’re all about.

“We don’t fully know their generational essence,” said James Hughes, an economist and demographer at Rutgers University. “We don’t have a good handle on them yet because we don’t have much experience dealing with them.”

Hughes said the post-millennial generation has been examined in several marketing studies, but they have not been the subject of true academic research.

“You can say they’re a connected generation. More than any other generation, their smartphone is their tie to everything else. They’re certainly technologically savvy, even more so than millennials,” Hughes said.

Read More: Move over, millennials: NJ businesses looking at undefined ‘Generation Z’ | https://nj1015.com/move-over-millennials-nj-businesses-looking-at-undefined-generation-z/?trackback=tsmclip

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Who’s more entitled — baby boomers or millennials? Finally, an answer…

millenials

Published: May 17, 2017 9:43 p.m. ET

Young Americans are constantly told by the media — and, sometimes, their own parents — that they think the world owes them a favor. Bad news for baby boomers: It may be the exact opposite.

Millennials say people should be able to pay for their own housing at 22 years of age, pay for their own car at 20.5 years of age and be responsible for their own cell phone plan at 18.5 years of age, according to a new study from personal-finance site Bankrate.com.

In all three cases, the younger cohort’s average response is about a year and a half earlier than when baby boomers feel these three landmarks of financial independence should happen.

“Millennials are often stereotyped as being entitled,” Sarah Berger, a columnist and analyst at Bankrate.com, said in a statement on the survey released Wednesday. “It’s refreshing to see that millennials really do have high expectations of gaining financial independence and getting off their parents’ payroll.”

https://www.marketwatch.com/story/baby-boomers-are-more-entitled-than-millennials-and-this-research-proves-it-2017-05-17

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Most Millennials Are Finding It Hard to Transition Into Adulthood: Report

millenials

by SAFIA SAMEE ALI

Millenials watch a video calling on the millennial generation to help end the problem of extreme poverty around the globe at the IMF/World Bank Group’s Spring summit on April 10, 2014. Miguel Juarez Lugo / Zuma Press file

By his twenties, Kyle Kaylor imagined he would be living on his own, nearing a college degree, and on his way to a job that fulfilled him.

Instead, at 21, he found himself out of school, living with his parents, and “stuck” working as a manager at a fast food restaurant scraping to make hand-to-mouth.

Launching into adulthood has been tricky, he said.

“It became too difficult financially to be in school and not working,” says Kaylor, who dropped out of Lincoln Christian University, in Illinois, after one semester because of a money crunch. “And without schooling, you can’t get a job that you can survive on, so I had to move back home,” he said.

https://www.nbcnews.com/news/us-news/most-millennials-are-finding-it-hard-transition-adulthood-report-n748676

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Millennials Rate New Jersey 11th Worst State to Live

millenials

April 12,2017

the staff of the Ridgewood blog

Ridgewood NJ, With millennials today making up the largest generation in the U.S. workforce yet earning 20 percent less than Baby Boomers did at the same age, the personal-finance website WalletHub conducted an in-depth analysis of 2017’s Best & Worst States for Millennials.

Overall Rank  40

State  New Jersey

Total Score  40.72

‘Affordability’ Rank  45

‘Education & Health’ Rank 23

‘Quality of Life’ Rank  39

‘Economic Health’ Rank 29

In order to determine the most livable places for this generation, WalletHub’s analysts compared the 50 states and the District of Columbia across 24 key metrics. The data set ranges from share of millennials to average monthly earnings for millennials to millennial unemployment rate.

Best States for Millennials Worst States for Millennials
1 North Dakota 42 Florida
2 Minnesota 43 Georgia
3 South Dakota 44 Nevada
4 Iowa 45 Louisiana
5 District of Columbia 46 Arkansas
6 Utah 47 Arizona
7 Wyoming 48 New Mexico
8 Wisconsin 49 Alabama
9 Colorado 50 Mississippi
10 Nebraska 51 West Virginia

Best vs. Worst

North Dakota has the lowest share of millennials living with their parents, 15.57 percent, which is 2.9 times lower than in New Jersey, registering the highest at 44.95 percent.

Minnesota has the highest millennial homeownership rate, 49.72 percent, which is 2.1 times higher than in the District of Columbia, registering the lowest at 23.48 percent.

The District of Columbia has the highest share of millennials, 35.17 percent, which is 1.8 times higher than in Maine, registering the lowest at 19.91 percent.

Vermont has the lowest share of millennials in fair or poor health, 5.2 percent, which is 2.7 times lower than in Nevada, registering the highest at 14.2 percent.

The District of Columbia has the highest average monthly earnings for millennials, $5,119, which is 2.1 times higher than in Idaho, registering the lowest at $2,478.

North Dakota has the lowest millennial unemployment rate, 3.94 percent, which is 4.1 times lower than in Mississippi, registering the highest at 16.13 percent.

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7 Differences Between Generation Z and Millennials As They Enter The Workforce

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Employers Will Have To Adjust To New Generation

April 8,2017

the staff of the Ridgewood blog
Ridgewood NJ, There’s a new generation in town and it’s one that employers better get ready for, because it’s 23 million strong and will be flooding the workforce by the end of the decade.

Ladies and gentlemen, meet Generation Z; a confidence-filled group that doesn’t want to miss a thing, has the shortest attention span of any generation and isn’t quite as open as its predecessors – the millennials – from whom they learned that not everything needs to be shared online.

“If you try to treat those in Generation Z (born in the mid to late ‘90s, mostly to Generation X parents) like you treated Millennials (born in the early ‘80s to mid ‘90s, mostly to Baby Boomer parents), it will backfire on you,” says Matt Stewart, co-founder of College Works Painting (www.collegeworks.com). “This generation is unique. And now they are starting to enter the workforce.”

Thanks to his role at College Works Painting, which offers internships that help undergraduate students gain real-life business management experience, Stewart has gained a first-hand look at both the Millennials and Generation Z. And there certainly are differences between the two:

• According to best selling author and generations expert David Stillman, you won’t find those in Generation Z frequenting Facebook or Twitter as much as their predecessors. Keenly aware of software monitoring, they are more likely to share their worlds on apps such as Snapchat or Instagram. Often dubbed Digital Natives, Millennials are much more likely to share their lives in the open on platforms such as Facebook.
• Being culturally connected is more important to those in Generation Z than to Millennials, with many more Gen Zers suffering from FOMO (Fear of Missing Out) than Millennials.
• Stewart doesn’t see this as a hard and fast rule and says the experience Generation Z employees have at College Works Painting – and the impact they pride themselves on having – is much the opposite of FOMO. An example that Stewart says other companies can follow.
• Those in Generation Z have grown up with smart phones, tablets, 3-D, 4-D and 360-degree photography just to name a few of their norms. According to Stillman, keeping the attention of a Gen Zer is harder than ever. Their average attention span is eight seconds, compared to the 12-second attention span of Millennials.
• Millennials are driven to succeed by helicopter parents who watch their every move, while Generation Z finds encouragement from parents who encourage independent thinking, want them to achieve on their own and are fed up with not receiving equal pay for equal success at work.
• According to Forbes, social entrepreneurship is important to Generation Z, a group that is driven to volunteer and choose a career in which they can make a difference. On the other hand, there are those who hope the Millennials will become more civic-minded as they grow older, but it’s something that hasn’t been witnessed as of yet.
• Generation Z children were raised in classrooms that focused on diversity and collaboration. Despite this fact, they tend to be more private than Millennials, perhaps as a result of seeing many of the downfalls of previous generations in the Great Recession.
• Because those who are part of Generation Z feel pressure to gain corporate experience early, they are competing with Millennials who are more likely to wait to gain that same type of experience. The good news for Millennials, who are more likely to chase jobs in the corporate world, is that 72 percent of those in Generation Z wish to take what they learn and apply it to their own business, versus 64 percent of Millennials who have the same goal.

About Matt Stewart

Matt Stewart is co-founder of College Works Painting (www.collegeworks.com), which provides real-world business experience for thousands of college students each year. The award-winning program also offers high-quality house-painting services for homeowners.

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The 15 best jobs if you’re under 25—and they pay at least $40k

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Published: Mar 24, 2017 8:06 a.m. ET

You might love watching reruns of Law & Order, but just because you get a kick out of watching people duke it out in a courtroom on TV doesn’t mean you should go to law school. Yet 25% of high-school students choose their future career based on something they saw on TV or in a movie, according to research from CareerBuilder.

Choosing a college major or career because it seems cool can backfire. A third of full-time workers come to regret their college major, CareerBuilder found. But by the time they realize they’ve made a mistake, doing a career reset is costly and complicated. Better to pick right the first time than have to start all over again in your 20s or 30s once you realize you’re not really cut out to be (or can’t make it as) a software engineer, salesperson, or screenwriter. But how to choose?

“There is a world of opportunity open to younger workers in business, technical and creative fields,” Rosemary Haefner, chief human resources officer at CareerBuilder, said in a statement. To narrow down the choices, you need to consider both your own passions and the potential salary and available job opportunities, Haefner added. “The more informed you are about your options and what it takes to get to where you want to be, the better the outcome,” she said.

https://www.marketwatch.com/story/the-15-best-jobs-if-youre-under-25and-they-pay-at-least-40k-2017-03-23?link=sfmw_fb

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BUSINESSES WORRY THAT TOO MANY MILLENNIALS HEADED OUT OF NEW JERSEY

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file photo by Boyd Loving

JOHN REITMEYER | MARCH 22, 2017

Millennials are leaving Garden State at a faster clip than any other group; that’s a concern for business groups, who want to keep them here

Michele Siekerka, president and CEO of the New Jersey Business & Industry Association, addresses conference on millennials and the state workforce.

Last year, the size of the nation’s millennial generation grew enough to top baby boomers and become the largest of the five living generations. But in New Jersey, business leaders are tracking a different trend as millennials have been leaving the state at a higher rate than other groups.

The loss of millennials is not only a waste of taxpayer investment in their K-12 education, but there are also concerns that it could be having a broader impact on a state economy that has taken several years to fully recover from the Great Recession.

That’s caused business leaders to begin talking about ways to keep New Jersey’s millennials from leaving the state in the first place, as well as doing things to attract millennials from other states as they launch their careers, and as more and more boomers here reach retirement age.

“It’s a challenge that is screaming out for some attention and some solutions,” said Michele Siekerka, president and CEO of the New Jersey Business & Industry Association. The NJBIA hosted a daylong conference in East Windsor yesterday on the issue of millennials and the state workforce.

https://www.njspotlight.com/stories/17/03/21/businesses-worried-that-too-many-millennials-headed-out-of-nj/

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Millennials may never get out of their parents’ homes

millenials

By Evan Horowitz GLOBE STAFF  FEBRUARY 23, 2017

You can’t blame the economy — not anymore. Young adults continue to move back home with their parents, even though the United States has enjoyed seven straight years of economic growth, pushing the unemployment rate below 5 percent.

This was supposed to be a temporary phenomenon, a short-term rush for shelter set off by the financial crisis of 2007-2009. But it just keeps going. Every year, more and more 25-to-34-year-olds turn up in their parents’ houses, right through to 2016.

Why has living at home become so voguish among millennials? Blame high housing costs. Blame declining marriage rates. And, also, blame the parents.

Start with the housing costs, which have become a major impediment to independence. A recent analysis from the Federal Reserve Bank of Boston found that housing really is less affordable for today’s young adults than it was for their peers 20 years ago — a key reason they’ve been slower to move out.

https://www.bostonglobe.com/business/2017/02/23/millennials-may-never-get-out-their-parents-homes/vSFNGdn4hjwu5bsMTnu0yK/story.html

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5 Tips to Start Jump Millennials’Entrepreneurial Mindset

millennials

February 17,2017

the staff of the Ridgewood blog

Ridgewood NJ, So, you’re a smart, imaginative, persuasive millennial and – contrary to the bad rap your generation usually gets – you’re willing to work REALLY hard. You’re just waiting for all those boomers and Xers to get the heck out of the way so you can have your turn at the brass ring.

But why wait?

You and your well-educated and connected friends are in a great position to create your own success – by creating your own business. Survey after survey finds that millennials have a true entrepreneurial mindset; you like flexibility and independence, and you’re determined to pursue your passions. And, thanks to the accomplishments of others before you (the young founders of Airbnb and Uber, Facebook’s Mark Zuckerberg), you’re likely to get more support and less eye-rolling should you strike out on your own.

“With more resources available to start-up founders, and a new respect for what innovative thinkers can do, there’s no need to wait around for your corner office and executive title,” says Matt Stewart, an entrepreneur and co-founder of College Works Painting (www.collegeworks.com/about), an internship program that provides practical business experience for college students. “Why sit and dream about climbing the ladder at someone else’s business when you can create your own?”

The idea of building something from nothing is daunting but doable, says Stewart, who started his company with just four employees in 1993 and now operates nationwide. Here are some of his tips for getting started:

  • You don’t have to reinvent the wheel. Create opportunity by finding a business model that delivers solutions to an urgent need that customers have. Your customers should already understand your product or service and believe in its necessity, not just think that it would be “nice to have.”
    • Define what makes you unique. Once you’ve picked a service or product to focus on, find out what makes you different. Research competitors to determine their customers’ likes and dislikes. How can you pair your individual experience with a solution that addresses what’s missing in the marketplace?
    • Understand that competition is good. Try to avoid starting a business that doesn’t already exist. If there are similar products or services to yours, it means there’s a demand. Now it’s up to you to figure out how you can deliver something that’s different and better.
    • You don’t need to start the next Facebook. Don’t worry about entering the market with a huge company. Instead, focus on providing a great solution for a niche group of customers ¬and then over-deliver. You can’t service 1 million customers if you don’t know how to service 10. Focus on your first 10 customers.
    • Ready, shoot, aim. Don’t wait to get started. You won’t know if you’re onto something unless you start making sales. Your idea isn’t validated until you have paying customers. Don’t spend too much time planning; start engaging with potential customers as soon as you can.

If the fear of failing is holding you back, Stewart says, remember that there’s no better time to take a risk than when you’re first starting out.

“Meanwhile, you’re gaining work experience, learning to be a leader, and doing it on your own terms,” he says.

About Matt Stewart

Matt Stewart is co-founder of College Works Painting (www.collegeworks.com/about), which provides business experience for thousands of college students each year. The award-winning program also offers high-quality house-painting services for homeowners.

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Parents not a ‘wallet’ in kid’s college costs, court finds

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By Greg Adomaitis | For NJ.com
on February 11, 2017 at 7:50 AM, updated February 11, 2017 at 9:29 AM

CAMDEN — Parents can’t just be forced to hand over cash for college payments without being involved in their child’s higher education decisions, an Appellate Court has ruled.

The Feb. 9 opinion on the long-simmering case between Caitlyn Ricci and her divorced parents Michael Ricci and Maura McGarvey sheds light on whether the two were legally obligated to pay for their estranged daughter’s higher education

“A parent cannot be viewed as a ‘wallet’ and deprived of involvement of college decision making process,” the ruling states. Also at heart here, however, is when those over the age of 18 become truly independent and the circumstances surrounding such a decision.

“Once the issue of emancipation is decided, an obligation to pay college costs for an academically motivated un-emancipated child requires a two-fold analysis,” the opinion reads. The first being whether the parents are involved in those choices and whether they can afford it.

https://www.nj.com/camden/index.ssf/2017/02/nj_parents_have_responsibility_to_pay_for_daughter.html#incart_2box_nj-homepage-featured

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Bashing liberals, Muslims and millennials: Has this pro-Trump priest gone too far?

The Rev

By Mark Mueller | NJ Advance Media for NJ.com
on February 08, 2017 at 8:38 AM, updated February 08, 2017 at 10:18 AM

Peter West, an avowed supporter of President Donald Trump, doesn’t shrink from calling it as he sees it.

Posting on Facebook and Twitter up to a dozen times a day, he has repeatedly railed against Muslims, calling moderate Islam “a myth” and voicing strong support for the president’s travel ban, which temporarily barred immigrants from seven majority-Muslim countries before a judge issued a stay last week.

West has assailed millennials as “snowflakes” who attend “cry-ins” and described liberals as “smug and arrogant” people who find solace in puppies and Play-Doh.

He has called Hillary Clinton an “evil witch” and former President Barack Obama a “bum,” at one point sharing a post that challenged Obama’s authenticity as an African-American because he wasn’t raised by a poor single mother in the inner city.

Were West some random internet flamethrower, his posts might garner a shrug in an age of intense political division and social media rancor.
https://www.nj.com/news/index.ssf/2017/02/bashing_liberals_muslims_and_millennials_has_this.html

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Millennials Falling Behind Their Boomer Parents

millenials

Baby Boomers: your millennial children are worse-off than you. Millennials earn 20 percent less than boomers did at the same stage of life, despite being better educated, according to a new analysis by the advocacy group Young Invincibles. (Jan. 13)

https://apnews.com/35e4cd92a3da4064a7e87b0f41394f9e?utm_campaign=SocialFlow&utm_source=Twitter&utm_medium=AP

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Author Explains What’s Wrong with Millennials

Simon Sinek on Millennial and Internet Addiction

January 9th 2016

the staff of the Ridgewood blog

Ridgewood NJ, Simon Sinek on Millennial and Internet Addiction tries to answer the question ,”Whats wrong with Millennials”, this is something that has a lot of meaning, and this gives us a look into our lives and the errors that we make.

“So you take this group of people, and they graduate school, and they get a job, and they’re thrust into the real world, and in an instant they find out that they’re not special, their moms can’t get them a promotion, that you get nothing for coming in last, and by the way you can’t just have it ‘cause you want it. And in an instant their entire self-image is shattered.”

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Millennials looking to fix overpiercing, remove tattoos

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John Petrick , Staff Writer, @johnpetrick854:39 p.m. EST December 19, 2016

Dr. Harris Sterman is all for young people expressing their individuality. But just how many piercings can you put into one ear, anyway?

“Some people get really carried away,” says Sterman, chief of plastic surgery at Holy Name Medical Center in Teaneck.

https://www.northjersey.com/story/entertainment/2016/12/19/millennials-looking-fix-overpiercing-remove-tattoos/95058206/