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  • Millennials - a Snapshot?

    The dependent generation: half young European adults live with their parents

    Eurofound report says it's not just people finishing education who struggle to live independently, but those in their 30s too


    An Italian family eating their meal. In Italy, 79% of young adults were living with their parents in 2011, according to Eurofound.

    Almost half of Europe's young adults are living with their parents, new data suggests – a record level of dependency that has sobering social and demographic implications for the continent.

    One of the most comprehensive social surveys of 28 European countries reveals on Tuesday that the percentage of people aged 18-30 who were still living with their parents had risen to 48%, or 36.7 million people, by 2011, in tandem with levels of deprivation and unemployment that surged during five years of economic crisis.

    The data from EU agency Eurofound, obtained by the Guardian, shows that few countries are immune and that the phenomenon is not exclusive to the debt-laden Mediterranean rim. The figures show large rises in the number of stay-at-home twentysomethings in countries such as Sweden, Denmark, France, Belgium and Austria. In Italy, nearly four-fifths (79%) of young adults were living with their parents.

    However, Germany, the Netherlands, Ireland and the UK saw decreases in their numbers over that period – in Britain, the figure fell from 30% to 26%.

    One of the report's authors, Anna Ludwinek, said: "The situation of youth has really fundamentally changed. And it looks different from the situation of their parents and grandparents.

    "It's not only the world of work that has changed but society is changing, so the transitions are becoming much more unpredictable; people are not having a job for life or live in one place for life."

    She said it was a myth that living with children and parents in a multi-generational household was all "happy clappy": "Really we see that multi-generational households have very low life satisfaction and a very high level of deprivation and perceived social exclusion.

    "One could argue that if you are at the age of 30 and are still living with your parents and, on top of that you have your own family, it is really difficult to start an independent life."

    The data underscores the predicament of "Generation Y" – who are better educated than their forebears, but condemned nonetheless to dimmer prospects than their parents' generation.

    The growing phenomenon of adults stuck living in their childhood bedrooms has, moreover, raised concerns about birthrates and demographics in an ageing continent.

    The trend for parental dependency, the report's authors say, cannot be solely explained by increases in the number of people studying later into their life, as millions more 25- to 29-year-olds have also been found to be living with mum and dad.

    For women aged 25-29, this figure rose by five points to 26% while the proportion for men is up three points to 34%. Even among those who have a job, the overall figure rose one point to 34%.

    While young adults tend to be as trusting of institutions as their parents, faith in their national government, legal system and the press all fell among the young between 2007 and 2011.

    Bobby Duffy from pollsters Ipsos Mori said he had found similar results in the UK: "Our generational analysis of attitudes in the UK has shown how much pressure the youngest generation feel under – they're the most likely to see themselves as poor even a good few years into their careers, which is historically unusual.

    "This echoes the Eurofound research – it's not just those straight out of school or university who are finding it more difficult to get going with independent lives, it's people well into their 20s and 30s."

    He said these results demonstrated that class and background was becoming even more of a factor in later life success.

    "Those from better off or higher social class families will be much better set to deal with the pressures. The real story here isn't about generation alone; it's about how it interacts with wealth and class.



    Millennials at Work: Young and Callow, Like Their Parents

    By MITCHELL HARTMAN






    Camille Perry, 26, works as a bartender in Portland, Ore. She believes there is a 'prevalent laziness' among her peers.


    THE generation now entering the work force, people in their late teens and early 20s, are consistently panned by many employers as not ready for the workplace. But while there are real differences, their behavior on the job might not be so different from that of previous generations.


    In surveys, middle-aged business owners and hiring managers say the new workers lack the attitudes and behaviors needed for job success. They don’t have a strong work ethic, these reports say. They’re not motivated and don’t take the initiative. They’re undependable and not committed to their employers. They need constant affirmation and expect rapid advancement.


    A recent report by Bentley University for example, found more than half of corporate recruiters rated recent college graduates with a grade of C or lower for preparedness; nearly seven in 10 said young workers were difficult for their organization to manage. The Pew Research Center found that more than half of college presidents thought today’s students were less prepared, and studied less, than students did a decade ago.




    Professor Cappelli said that young peoples’ attitudes toward work and career had not changed significantly since the baby boomers came of age in the 1960s. “There’s no evidence millennials are different,” he said. “They’re just younger.”


    Adam Tratt, 42, manages several employees in their 20s. From a work standpoint, he and his friends looked a bit aimless at that age too, he said.


    “I remember very explicitly when I was graduating from college, this stereotype of Gen-Xers as slackers,” he said, referring to those born from roughly 1965 to 1982, and who are now in their mid-30s and 40s. Mr. Tratt, who runs a software start-up in Seattle, said his generation gained a reputation in middle age as entrepreneurial and hard-working.


    Professor Cappelli challenged middle-aged managers to remember when they were 22. “You probably wanted to get out of the office in a hurry — you were interested in what was going on after work,” he said. “You had these bursts of energy and great enthusiasm about something, but you also didn’t have a lot of resilience.”


    Many people who supervise young workers, though, do echo the prevailing view that millennials have some troublesome work habits.


    Robert Boggs is an administrator at Corinthian Colleges in Southern California and has managed several people under 30 on his staff. “They tend to be very self-absorbed; they value fun in their personal and their work life,” said Mr. Boggs. “Because they’ve grown up multitasking on their mobile, iPad and computer, I can’t expect them to work on one project for any amount of time without getting bored.”


    Thomas Gallagher has hired several young athletes over the years in his sporting equipment business in Wilmington, Del. He says he thinks many young workers lack perseverance. “I worry that if I give someone a long-term task, if things don’t work out in the short term, I’m going to get an email or phone call saying, ‘You know what? This isn’t for me. I give up, I can’t do this,’ ” Mr. Gallagher said.


    Some of these negative views are even shared by many in the generation in question.


    “I see a lot of students cheating their way through, just sliding by,” said Claire Koerner, 21, a student at the University of Washington in Seattle.


    Ms. Koerner is finishing a B.A. in business administration while working at a wedding-planning start-up, OneWed. She does social media for the company while in class, she admitted. But she said many of her peers had not held a job at all. (According to the federal Bureau of Labor Statistics, teenage labor force participation is at record lows.) “They just aren’t going to have the skills to work as hard as they’re expected to,” she said.


    Camille Perry, 26, of Portland, Ore., said her generation had a poor work ethic, although her own schedule was filled with labor. She holds two jobs: bartending at a neighborhood karaoke lounge and serving at a downtown lunch restaurant.


    “We are a generation that spent a lot of time in front of the television or playing video games,” she said. “There’s just a prevalent laziness.”


    Academics who study this generation said its members did differ from Generation X and baby boomers, those born from 1946 to 1964, and the differences may persist through their work lives.


    “This is the most affirmed generation in history,” said Cliff Zukin, a senior faculty fellow at the Heldrich Center for Workforce Development at Rutgers University, where he is also a professor of public policy. “They were raised believing they could do whatever they wanted to, that they have skills and talents to bring to a job setting.


    “And when they’re lucky enough to get a job they’re basically told, ‘Be quiet, you don’t really know anything yet.’ For a lot of them, this is a tremendous clash between their expectations and the reality of the job.”


    The generation may be shaped more by the Great Recession than by their overprotected, tech-saturated upbringing. If they lack the loyalty and commitment that employers want in entry-level workers, is that really such a surprise?


    Young people’s multitasking on mobile devices might seem like a distraction at work, but it also has an upside.


    John Scrofano, 31, who is Ms. Koerner’s boss at OneWed in Seattle, appreciates the comfort his younger employees have with social media. “They don’t have that line between work and home that used to exist, so they’re doing Facebook for the company at night, on Saturday or Sunday,” he said. “We get incredible productivity out of them.”


  • #2
    Re: Millennials - a Snapshot?

    The bitching about Millennials is nonsense. In my experience (working as an adjunct prof), they are as intelligent and hard working as anyone. I haven't seen any indication of a tendency to quit quickly or being unfocused.

    Comment


    • #3
      Re: Millennials - a Snapshot?

      Originally posted by Lasher View Post
      The bitching about Millennials is nonsense. In my experience (working as an adjunct prof), they are as intelligent and hard working as anyone. I haven't seen any indication of a tendency to quit quickly or being unfocused.
      Slice & Dice, Professor, at work . . . .

      Comment


      • #4
        Re: Millennials - a Snapshot?

        Freelancers Piece Together a Living in the Temp Economy

        By ADRIENE HILL



        Heather Burdette, a Las Vegas entertainer, preparing to work on stilts at a convention.

        LAS VEGAS — The photos spread out on a coffee table tell the story of a career. In one, a woman wears a fairy costume and rides a flying horse. In another, the woman lounges on a desert rock at sunrise, in a gold bikini draped with red silk. In a third, she wears an Uncle Sam outfit and poses on three-foot stilts.

        These are photos of Heather Burdette, a Las Vegas entertainer, at work.

        Not on the table are audition reels from Ms. Burdette’s other career, one in which corporations pay her $500 to $1,000 a day to present their products, including tires and cybersecurity products, at trade shows. It is work for which she wears business attire instead of hot pants. These jobs are lucrative but infrequent.

        The overlapping careers have this in common: The work is temporary, one freelance job after another. Ms. Burdette is among the millions of Americans who piece together a living. Freelancers, the self-employed, temporaries — all know the current job will end and they need to keep looking for the next one. Increasingly, even many people with full-time jobs feel insecurity about their work.

        Ms. Burdette knows the trajectory of insecurity. She has worked in Las Vegas as an entertainer since 1996, sometimes in jobs that quickly disappeared.

        Right now, she is busy. A freelancer since 2008, she works with 30 agents. Some help her book conventions. Others set her up with entertainment jobs. In addition to her presenting, this year she has worked as an astrologer and stilt-walker, and she helped dress fashion models at a mall. She is fortunate to live in a city with huge entertainment and convention industries that rely on temporary workers. “It’s the land of opportunity,” she said.


        But as Ms. Burdette gets older, she has no choice but to consider new ways to earn a paycheck. In both of her careers, looks matter. At 43, she knows she cannot do these jobs indefinitely.

        “I’m really proud of the moments and the things these represent,” she said, touching the photos on her coffee table. One is a profile of her, not in costume, with the words “Remember who you are ... and always keep growing.” This is to inspire her, to encourage her to work on the skills she will need for whatever work will come next.

        “Whether that means getting a 9-to-5 job and putting on the big-girl pants,” she said, “or whether it just means going into something where people are not looking at me, and I’m not covered in rhinestones every day.”

        How many people have temporary work is hard to say. According to the Bureau of Labor Statistics, about 14 million people were self-employed last month, including freelancers like Ms. Burdette.

        There has been no official count of insecure workers in years. In 2006, the Government Accountability Office estimated that about 30 percent of the work force was “contingent,” including those with temporary and part-time jobs.

        The number of people paid by temp agencies like Manpower has grown 46 percent since 2009, according to Labor Bureau data. “The staffing industry has added more jobs than any other sector since the end of the recession,” said Erin Hatton, a sociology professor at the University at Buffalo and the author of “The Temp Economy.

        There are contingent office workers and factory workers. There are contingent computer programmers and corporate executives.

        “We know that temps are everywhere,” Professor Hatton said.


        Starting with the recession, employers have slashed costs, and a major way to do that has been to lower labor costs. Temporary workers often are paid less than regular employees. Under the Affordable Care Act, companies can avoid health insurance costs by hiring part-time workers (who may qualify for subsidized insurance).

        “What we call contingent workers is really hard to define, because to some extent we’re all contingent now,” said Arne Kalleberg, a sociology professor at the University of North Carolina at Chapel Hill and the author of “Good Jobs, Bad Jobs.”

        “Work has become much more insecure, much more precarious,” he said. “So everybody is a temporary in one sense, because their levels of job security have really decreased in recent years.”

        The trick with insecure work, for the worker, is that the next paycheck is unpredictable. For low-income factory temps, being chosen for work can mean the difference between making rent or not making rent, eating well or not eating well. For freelancers like Ms. Burdette, the lack of security can make it hard to buy a house or plan for the future. What if a job comes up? What if it doesn’t?

        Ms. Burdette is familiar with financial insecurity. She declared bankruptcy in 2005. When she married in 2008, she brought to the marriage a few thousand dollars in credit card debt.

        She and her husband, Jozef Bobula, met in January and married in May. They were in love, she said, but he also needed a green card for immigration reasons. He’s from Slovakia.

        Mr. Bobula, 37, is a bass guitarist. He, too, pieces together work in Las Vegas, and is playing a regular gig at the Stratosphere casino. He also has a jazz trio and a duo, plays solo and teaches music.

        Part of what attracted Ms. Burdette to Mr. Bobula was his ability to manage money. “He is accustomed to saving first and spending second,” she said.

        Today, her credit card debt is paid off. Her 2000 Nissan Xterra is paid for. She says the last four years have been her first without debt since she was 18.

        Ms. Burdette calls her financial situation stable right now. She and her husband, combined, make $55,000 to $75,000 a year. Their apartment is cozy, but comfortable. Ms. Burdette calls the style “Craigslist chic,” because she bought most of her furniture on the resale website. The most valuable things in their apartment are her husband’s guitars.







        The couple do not have retirement savings, but they do have an emergency fund and are considering investing a portion of it in the stock market. Her husband had the savings account when they married, and they only recently added her name to it. They waited, she said, because they wanted to see if the marriage would last.

        “To have my name on it,” she said, “it brought still another level of peace and comfort that I didn’t think could even have existed.”

        “I can say no to gigs I don’t want to do,” she said. “I can be more discerning. I don’t have to stand around in a showgirl costume if I’m not feeling physically up to it in terms of my appearance.”

        Ms. Burdette wants to find a new set of gigs in which people are not looking at her quite as closely. She has explored voice-over work, recording audiobooks. She has considered doing more with her astrology experience.

        She would consider a full-time job, but as a last choice. She said her parents spent years planning and worrying and stressed about the future. “It didn’t get them any more secure than me,” she said. “I’m actually more secure right now, because I understand that the bottom can fall out at any time.”

        One of her old business cards said, “Whaddya need?” Her current card says, “singularly multitalented.”

        Under the new health law, which includes a mandate to buy insurance or face a penalty, Ms. Burdette has coverage for the first time in years. “It does provide people with a cushion,” Professor Kalleberg said, “so that they can search, so that they can look for opportunities.”

        Now, Ms. Burdette has to figure out what those opportunities will be. Reinvention is a word heard a lot in today’s labor market. Jobs keep changing. People have to change to keep up, especially people without employers that provide training.

        But many temporary and self-employed workers do not have the money or time to reinvent themselves and their skills. Even if they do, it is not clear which jobs will be available. “The path ahead is not going to be laid out for you,” Professor Kalleberg said.

        The advice to reinvent is “easy to say, sitting in a job that has a fairly clear career path like I do,” he said. “But it’s a difficult situation and it’s stressful.”

        Figuring out what’s next may be a little easier for Ms. Burdette. She has been doing just that for years.

        “I don’t know what it’s like not to reinvent,” she said, “I’m just used to that.”




        Comment


        • #5
          Re: Millennials - a Snapshot?

          this posting problem is tenacious and it looks perfect in the composition window. WTF!!!!

          Comment


          • #6
            Re: Millennials - a Snapshot?

            How the older generations perceive the Millenials (and portray them) is nicely discussed in the Fourth Turning. I recognize that the book uses historical facts carefully chosen to support their thesis, on the other hand, the tendency of the older generation to portray certain following generations in such terms is discussed in the book, and was suggested that the millenials, in particular, would be portrayed that way (written back in '97 when the millenials were still in their teens).
            Last edited by wayiwalk; March 25, 2014, 04:38 PM.

            Comment


            • #7
              Re: Millennials - a Snapshot?

              individual survival/thriving is difficult enough for this group as a whole. consider trying to start and raise a family -

              Comment


              • #8
                Re: Millennials - a Snapshot?

                [QUOTE=don;278816]Eurofound report says it's not just people finishing education who struggle to live independently, but those in their 30s too

                http://static.guim.co.uk/sys-images/...ng-a-m-011.jpg
                An Italian family eating their meal. In Italy, 79% of young adults were living with their parents in 2011, according to Eurofound.

                Almost half of Europe's young adults are living with their parents, new data suggests – a record level of dependency that has sobering social and demographic implications for the continent.

                One of the most comprehensive social surveys of 28 European countries reveals on Tuesday that the percentage of people aged 18-30 who were still living with their parents had risen to 48%, or 36.7 million people, by 2011, in tandem with levels of deprivation and unemployment that surged during five years of economic crisis.

                The data from EU agency Eurofound, obtained by the Guardian, shows that few countries are immune and that the phenomenon is not exclusive to the debt-laden Mediterranean rim. The figures show large rises in the number of stay-at-home twentysomethings in countries such as Sweden, Denmark, France, Belgium and Austria. In Italy, nearly four-fifths (79%) of young adults were living with their parents.

                However, Germany, the Netherlands, Ireland and the UK saw decreases in their numbers over that period – in Britain, the figure fell from 30% to 26%.
                [QUOTE]
                I think this is as much cultural as anything else...I do not know what the difference is between warm, large family cultures and cool, small family cultures, but there is one. An acceptance of family as a backup...perhaps less pride in a large family, where less is often what you have to live with, but family really does matter?

                As best one can see, only those living the majority of their life between the Great Depression and the Great Recession will have the sense of total generation seperation that everyone is lamenting...of less people, and more stuff, of lots of free time that there is nothing real to fill it with, except entertainment, casual sex and lack of purpose. People have gained superficiality and a lack of intimacy as a type of pseudo-wealth. After all, if you don't have to pay for your family, you get more space, and more stuff to fill it with.

                The North West of Europe and America has over expanded into a glossy, spacious and unreal life by getting into perpetual debt. Those places with less money and perhaps a little more family tradition are suffering the most at present, as there is no way to begin again with so many young people to be put to work that are not needed, when those with more money, and a crumbling family orientation are finding there is no one to lean on at the family home, with everyone complaining that how it is just ought not to be so.

                I don't see a lot of happiness out in the future of our world, with the young looking for the promises everyone thought they would have in a perpetually expanding economy, and the quickly aging baby-boomers wondering how to sell the McMansions they were sold on the myth that money was free because the Government printed it.


                Originally posted by don View Post
                “I don’t know what it’s like not to reinvent,” she said, “I’m just used to that.”
                Obviously, we will get used to it too, or we will not succeed.



                Comment


                • #9
                  Re: Millennials - a Snapshot?

                  It all comes down to cost of living and the rent is TOO DAMN HIGH!

                  Comment


                  • #10
                    Re: Millennials - a Snapshot?

                    Comment


                    • #11
                      Re: Millennials - a Snapshot?

                      Someone did a study recently to calculate the ROI on a college education.
                      The results are in a nice interactive format at their website here http://www.payscale.com/college-roi/

                      The list below shows the overall top ten by 20 year ROI %
                      By percentage, Georgia Tech wins at nearly 12%, and Colorado School of Mines is just behind at 11%
                      I sorted it a few different ways -using just engineering, or just by state..
                      Results remain similar. A few top schools return 11%, a few more at 10%, and most great schools return 7% or 8%.

                      Now, a quick look shows that student loans cost about 7%.

                      That means that on average, a great student that gets a degree in engineering at Stanford or Purdue, who borrows the money to go, will end up no better off than her high school classmate who did not go to college.
                      Her banker will make a bundle on her loan, and her college will keep the six-figure tuition, but she is not really much ahead.

                      I guess she should be more grateful for the opportunity to build so much character by doing a few years of advanced calculus and physics.
                      .
                      .
                      .

                      1 Georgia Institute of Technology (In-State) $92,250 $755,600 11.9% 79%
                      2 Colorado School of Mines (In-State) $114,200 $783,400 11.0% 67%
                      3 Harvey Mudd College $229,500 $980,900 8.8% 88%
                      4 Colorado School of Mines(Out-Of-State) $178,500 $719,000 8.6% 67%
                      5 California Institute of Technology (Caltech) $220,400 $837,600 8.3% 92%
                      6 Massachusetts Institute of Technology (MIT) $223,400 $831,100 8.2% 93%
                      7 Stanford University $236,300 $789,500 7.8% 95%
                      8 Rose-Hulman Institute of Technology (RHIT) $217,400 $736,200 7.8% 76%
                      9 Polytechnic Institute of New York University (NYU-Poly) $223,900 $724,500 7.7% 62%
                      10 Stevens Institute of Technology $250,900 $722,400 7.2% 78%

                      Comment


                      • #12
                        Re: Millennials - a Snapshot?

                        Don't forget the obligatory electives, thrifty! That's where I built most of my character.

                        Comment


                        • #13
                          Re: Millennials - a Snapshot?

                          Originally posted by thriftyandboringinohio View Post
                          Someone did a study recently to calculate the ROI on a college education.
                          The results are in a nice interactive format at their website here http://www.payscale.com/college-roi/

                          The list below shows the overall top ten by 20 year ROI %
                          By percentage, Georgia Tech wins at nearly 12%, and Colorado School of Mines is just behind at 11%
                          I sorted it a few different ways -using just engineering, or just by state..
                          Results remain similar. A few top schools return 11%, a few more at 10%, and most great schools return 7% or 8%.

                          Now, a quick look shows that student loans cost about 7%.

                          That means that on average, a great student that gets a degree in engineering at Stanford or Purdue, who borrows the money to go, will end up no better off than her high school classmate who did not go to college.
                          Her banker will make a bundle on her loan, and her college will keep the six-figure tuition, but she is not really much ahead.

                          I guess she should be more grateful for the opportunity to build so much character by doing a few years of advanced calculus and physics.
                          .
                          .
                          .

                          1 Georgia Institute of Technology (In-State) $92,250 $755,600 11.9% 79%
                          2 Colorado School of Mines (In-State) $114,200 $783,400 11.0% 67%
                          3 Harvey Mudd College $229,500 $980,900 8.8% 88%
                          4 Colorado School of Mines(Out-Of-State) $178,500 $719,000 8.6% 67%
                          5 California Institute of Technology (Caltech) $220,400 $837,600 8.3% 92%
                          6 Massachusetts Institute of Technology (MIT) $223,400 $831,100 8.2% 93%
                          7 Stanford University $236,300 $789,500 7.8% 95%
                          8 Rose-Hulman Institute of Technology (RHIT) $217,400 $736,200 7.8% 76%
                          9 Polytechnic Institute of New York University (NYU-Poly) $223,900 $724,500 7.7% 62%
                          10 Stevens Institute of Technology $250,900 $722,400 7.2% 78%
                          I'd totally agree that formal education is over-hyped and overpriced.

                          However, you also need to consider that many students do not pay these costs because of financial aid.

                          Taxpayers, however, do pay them, so now we need to calculate what the student will pay in federal tax over his life time,
                          subtract out his other social benefits, etc, to see if the college paid off for the tax payer.

                          I also wonder, how do you do ROI on a bachelors degree? Compare to similar students who drop out? compare to HS graduates?

                          My suspicion is that, compared to people with comparable cognition and work ethic, the college education adds nothing to life time income.

                          Comment


                          • #14
                            Re: Millennials - a Snapshot?

                            Originally posted by Polish_Silver View Post

                            ...My suspicion is that, compared to people with comparable cognition and work ethic, the college education adds nothing to life time income.
                            Great point, PS. You are likely correct, I can think of 3 or 4 such people.

                            Comment


                            • #15
                              Re: Millennials - a Snapshot?

                              Originally posted by thriftyandboringinohio View Post
                              Great point, PS. You are likely correct, I can think of 3 or 4 such people.
                              The Vice president of Linear Technology has no bachelors degree. He dropped out of MIT to work with Robert Widlar and just learned circuit design that way. They had a another guy there, Jim Williams, who also had no bachelor's degree. Sadly,
                              the system is less accepting of that now.

                              Comment

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