OW (k)NO(w) Millennials
The Millennial Generation is also known as Generation Y (because it comes after Generation X).
Millennials are framed as being lazy, narcissistic and prone to jump from job to job. They are sleeping through time, only watching their screen to keep up their digital reputation. Not waking up to start working and building their future.
Millennials are having a tough time from a financial point of view. It is literally the first generation since the World Wars that is worse off than their parents. Some examples:
– Higher student debt (300% more -in the USA- compared to their parents)
– Crazy prices for houses, especially compared to their salary / income
– Not able to retire until they are 75 years old
Salaries have stagnated and entire sectors have cratered. At the same time, the cost of every prerequisite of a secure existence —education, housing and health care— has inflated into the stratosphere. From job security to the social safety net, all the structures that insulate them from ruin are eroding. And the opportunities leading to a middle-class life —the ones that boomers lucked into— are being lifted out of their reach. Add it all up and it’s no surprise that they’re the first generation in modern history to end up poorer than their parents. Not to mention the fallout of unfulfilled promises and the failures of the political system. From my point of view, this is what makes them more narcissistic than previous generations. Due to these economic constraints, Millennials have a growing tendency to delay some of the typical adulthood rites of passage like marriage or starting a career.
On the positive side, the Millennials are becoming the majority for the coming years, giving them loads of opportunity to change the current systems and political views. They are stepping into decision making roles. They are more open-minded, confident, self-expressive, liberal. They believe in justice and equality, are upbeat and receptive to new ideas and ways of living. Let’s wake up and look forward, to a digital renaissance. A sharing economy: access above ownership, maybe even with a basic income for everyone.
Sicco Maathuis | Sergeant Seamless