How Millenials Are Leading The Labor Force
Millennials, the age group most commonly reported as being born between 1980-1994, were born into a time period when technology changed everything.
Pew research has concluded many different studies on millennials. Not only does their technology use make them stand out – millennials became the largest generation in the labor force in 2016. They are more likely to live in cities, to hold a college degree, and to be more racially diverse than previous generations.
Roxana Maddahi for the Huffington Post explains that Gen Y is “working hard, doing things differently, and finding their own, unique paths to success… millennials actually have more drive, higher levels of education and better budgeting skills then the generations before them.”
When it comes to budgeting their money, research does show that millennials are doing what is necessary to succeed, considering the huge wealth gap and financial crises that were so pertinent to their lifetime.
CNBC reports that millennials are more careful and more conservative with their money. Although they are reluctant to invest their money, due to the Great Recession, they are rather good at saving it. They also have very optimistic views of their financial futures.
One life-hack a lot of millennials are using to save is the rewards points offered through credit card companies. They use their card for inexpensive purchases and take advantage of those special offers more often than any generation.
October 18, 2018
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