According to recent U.S. Census projections and a social recruiting report by Jobvite, Gen Y (also known as the Millennial Generation or just Millennials) is rapidly coming of age and is a force to be reckoned with in the working world. While 2011 was heralded as the year that the Baby Boomers reached retirement age, 2018 will be the year when Gen Y (and subsequent demographic cohorts) will make up the majority of the working population. Born in the mid-1980s and after, Gen Y is estimated at roughly 70 million strong and share some common traits: technology savvy, family focused, achievement and team oriented, and attention craving.
Unfortunately this same group is facing a tougher future than Gen X or the Baby Boomers. Told since birth that they’re the future of America, a recent CNBC special report on global entrepreneurship found that they “are 40 percent more likely to be unemployed, face chronic underemployment, and hold unprecedented college debt loads.”