Millennial Force Speeds Ahead
9
Millennial Force Speeds Ahead Q2’ 2014 U.S. Job Growth SSG Analysis Report August 2014 2014 © Santiago Solutions Group Inc. As part of our ongoing series, SSG analyzes economic indicators from various sources, sharing growth insights that are vital signs of “new” economic opportunity in the Total Market.
-
Upload
santiago-solutions-group -
Category
Business
-
view
320 -
download
0
description
Millennials are now increasingly optimistic about their own future value and stability.They are obtaining employment at a significantly higher rate than total population, managing to sustain these jobs and, even still, avoiding risky investment decisions. Millennials are now at the most accessible point since the recession for durable purchases.
Transcript of Millennial Force Speeds Ahead
Millennial Force Speeds AheadQ2’ 2014 U.S. Job GrowthSSG Analysis Report August 2014
2014 © Santiago Solutions Group Inc.
As part of our ongoing series, SSG analyzes economic indicators from various sources, sharing growth insights that are vital signs of “new” economic opportunity in the Total Market.
2
Millennials 25-34 Make Up 1 In 4 Of U.S. Employed Base
20
14
© S
an
tiag
o S
olu
tion
s G
rou
p In
c.
25%
75%
Share of Total Employed Q2:14
Millennial Non-Millennial
Source: SSG analysis of BLS Quarterly Census of Labor Force Statistics Quarter 2 2014;Millennial Base: 25-34
Total Employed: 127.4 M
31.8 M
95.7 M
While Millennials Make Up 25% Of Total Employed, They Now Make Up 37% Of Those Newly Employed
3
25%
75%
Share of Total Employed Q2:14
Millennial Non-Millennial
37%
63%
Share of Growth Q2: 2013-2014
Millennial Non-Millennial
Source: SSG analysis of BLS Quarterly Census of Labor Force Statistics Quarter 2 2010- 2014;Millennial Base: 25-34Source: Deloitte report on The Class of 2012 Labor Market- Shierholz, Sabadish, and Wething
However, according to a recent Deloitte report, 18% of Millennial graduates are underemployed.
31.8 M
95.7 M
+500K
+900K
Total Employed: 127.4 M Net Growth: 1.5 M
4
20
14
© S
anti
ag
o S
olu
tions
Gro
up
Inc.
Millennials Are Maintaining An Accelerated Rate of Job Growth
2010-2011 2011-2012 2012-2013 2013-2014
0.8% 0.8%
1.8% 1.8%
YOY Growth Millennial employment continues growing at twice the rate seen right after the official end of the recession in 2010-11.
Source: SSG analysis of BLS Quarterly Census of Labor Force Statistics Quarter 2 2010- 2014;Millennial Base: 25-34
The Pace of Millennial Job Gains Has Increased Further and Continue to Speed Ahead 50% Faster Than Total Employed 25+
5
20
14
© S
anti
ag
o S
olu
tions
Gro
up
Inc.
MILL Total 25+
1.3%1.1%
1.8%
1.2%
Employment Growth Rate4 year CAGR2010-2014
2 year CAGR 2012-2014
Source: SSG analysis of BLS Quarterly Census of Labor Force Statistics Quarter 2 2010- 2014;Millennial Base: 25-34
Millennials Are Securing Jobs at a Pace 4x Faster Than They Are Entering the Work Force
6 Source: SSG analysis of BLS Quarterly Census of Labor Force Statistics Quarter 2 2010- 2014;Millennial Base: 25-34
20
14
© S
anti
ag
o S
olu
tions
Gro
up
Inc.
Employed Civ Labor Force
1.3%
0.3%
Millennial Annual Growth 2010-2014
Not only are Millennials growing at a much faster rate than total employed, they are also acquiring employment faster than they are entering the labor force.
7
Source: SSG Analysis of Gfk MRI 2010-2013 DoubleBase Survey of the American Consumer; Consumer Confidence - Financially How Are You/Household Than Last 12 Months: Better now.; Your Intentions - How Likely In The Next 12 Months: Buy your first or second house/residence Very Likely; Base: Employed 25-34
Since 2010, Millennial confidence in overall financial stability has significantly increased.
2010- 2013 change :
+12%
Millennials Are Increasingly More Confident, Feeling Financially Better Now than Last Year
24% 33%
But Still Careful About Taking Major Financial Risk = Debt % Very Likely to Buy Home in Next 12 Months Among Employed
Though increasing, Millennials’ likelihood to buy a home still low.
2010- 2013 change :
+5%
10% 11%
Millennials Speeding Ahead In Jobs & Optimism Yet with Restrain Millennials are obtaining employment at a significantly
higher rate than total population, managing to sustain these jobs and, even still, avoiding risky investment decisions.
Though hit hardest and longest by the recession, Millennials are now increasingly optimistic about their own future value and stability.
Millennials are now at the most accessible point since the recession for durable purchases; in time for a merrier Holiday season!
8
20
14
© S
anti
ag
o S
olu
tions
Gro
up
Inc.
About Santiago Solutions Group
We guide clients using advanced research, projectable opportunity sizings, innovative modeling and predictive analytics. Yet, integrating and distilling rigorous data is just the base to reduce your financial risk.
Leveraging client-side experience and consulting, we arm you with intelligence, ownable insights to purchase, strategic pathways aligned with the highest impact priorities, and effective Total Market roadmaps inclusive of customer journeys.
Santiago Solutions Group
SantiagoSolutionsGroup.com
@Santiago_Group @Carlos_SSG
santiagosolutionsgroup.com/subscribe/
To Learn More, a subscription to SSG’s newsletter provides you with access to this and other SSG’s full Reports…
SSG: 818.736.5661
