Numbers Suggest Why Millennials Are "Generation Frustration"

Jim Liebelt | Senior Writer, Editor and Researcher for the HomeWord Center for Youth and Family at Azusa Pacific University | Monday, September 30, 2013

Numbers Suggest Why Millennials Are "Generation Frustration"

The number, in millions according to Barron's, of millennials in the U.S. 86 million: that's 7 percent larger than the baby-boom generation.

The percentage of millennials who are unemployed in the United States, according to the United States Labor Department, this is even more alarming when paired with a Harvard study finding that just 6 in 10 millennials have a job, half of which jobs are part-time. The bottom line here is that millennials can't seem to find jobs.

The number of bachelor's degrees, in millions, that universities are expected to award during the 2013-14 school year. This is in addition to the 943,000 associate's degrees, 778,000 master's degrees and 177,000 doctoral degrees projected.

The percent of hiring managers in a recent survey by Adecco who say they have no plans whatsoever to hire a recent college graduate.

4.7 million jobs have been created over the past three years, according to the Jobs Report, while about 8 million jobs were lost in 2008 and 2009. The fact is, jobs aren't being created fast enough for the entire U.S., much less for millennials.

The average age at which current U.S. retirees said they retired, compared with 59 in 2003 and 57 in 1993. That figure is just current retirees; current non-retirees expect to delay their own retirements past age 65. Whether they haven't saved enough money or just love working, their delayed retirement means less upward mobility for millennials.

The total number, in millions, of millennials who lived in their parents' home in 2012, up from 18.5 million of their same-aged counterparts in 2007. Millennials simply can't afford to live on their own.

Source: Huffington Post