Are Millennials a “Lost Generation”?

It’s hard out there for a Millennial. While the national unemployment rate has kept firm at 7.9%, the jobless rate for Millennials (or the 80 million Americans born between 1980 and 2000) continues to increase, reaching the alarming rate of 13.1% in January.

The Pew Center calls Millennials the “boomerang generation," because nearly 40% of all Americans between the ages of 18-34 still live at home with their parents; numbers this high haven’t been seen in over 70 years. And the boomerang trend is expected to continue or even worsen. The National Bureau of Economic Research reports that those who graduate during a recession will earn 10% less over a decade of work. Unfortunately for Millennials, research shows that 70% of overall wage growth occurs in the first 10 years of one's career.

But those who do manage to find jobs are also struggling. Young people with high school degrees have seen their inflation-adjusted wages decline by 11.1%; college graduates have seen a smaller, yet significant, decline of 5.4%, according to the Economic Policy Institute. Read more

In reaching a population group it is critical to understand the needs and problems of that group, the challenges it faces, and to respond both sensitively and effectively to them.