In a recent article published by Market Watch, it was stated that the Millennial Generation (aka Generation Y) will be the key to rebuilding the economy, if only because we are young and just beginning our lives in the real world.
As a member of this influential group, I am taking a stand and asking that my fellow Y'ers take a proactive role in ensuring that we make the most of this powerful responsibility and become active in our economic future. Our parents, the Boomers, have hopefully raised us right and set us out into the world to make our mark. We also have a new President who has the ability to offer this generation a powerful head start in life, ( home purchase assistance, education tax credits, workforce innovation, etc.) if we hone in on the opportunities. We are coming into power and as the article states, are not stressing as much about the current economic downturn because we don't have the much time or as many resources invested in the issue.
The number of people between the ages of 20 and 30 are staggering, which has exceptional economic implications. With so many individuals in this age range entering the workforce, there is the potential to see large job growth, and with the current job shortage this generation can demand higher wages, which will aid in our desire to spend money on clothes, new technology, eating out and other social life treats. Not to mention we are going to be the next generation to be getting married and starting families, so naturally we will eventually want to acquire large assets like homes and cars. This speaks well for the future of our economy.
Even though times are tough and things look bleak, look towards the future leaders of this world and have faith that with our shear volume and blind ambition and energy, we can help save the day. So, all you Millenium babies out there, go out and prosper, your country depends on it.
"The Millennials are on the move, and like their Boomer parents will be an unstoppable force in American economic and social life for decades."
5 years ago