Some of the issues facing millennialsas of 2015are underemployment, unemployment, a rising cost of living and high student loan burdens. Both male and female millennials are concerned about balancing their work and their personal lives, and want to spend more time with their families, as noted in the results of a survey conducted by Bentley University. Millennials are also concerned over the high cost of housing and tend to live with their parents much longer than previous generations.
Overall, and as a result of the recession that started in the late 2000s, millennials face greater economic challenges than previous generations. In 2012, one out of every two college students was either unemployed or underemployed, as reported by the New York Times. Because of the recession, many millennials have been forced to make career changes, and they find it difficult to believe that hard work and dedication to an employer will result in either advancement or job security.
Millennials are less likely to tolerate an uncomfortable, insensitive or unappreciative work environment. As a group, they tend to be more relationship-oriented, and they expect to be afforded mutual respect on the job and find value in their work, as noted by the Bentley University survey.
Although there is noexact and agreed-upon birth-year range to identify millennials, they are generally considered to be those individuals who reached maturity around 2000. They represent a demographic that has surpassed the baby-boomers in the United States by 11 million as a result of immigration and the death rate within the boomer generation. One out of every three people in the U.S. will be a millennial by 2020, as estimated in a Brookings Institution analysis.