Millennials Hoping for Boomers to Retire
A recent article titled Millennials Have Hope: The Boomers Will Retire caught my attention. The current economy has led to fewer jobs available for a larger potential workforce. Many people who used to retire in their 60s are continuing to work, making it harder for Millennials to find employment.
Younger generations may be obtaining their college degrees in the field in which they would prefer to work, only to find they are taking any position they can get. According to this article, “Nationally, 13.2 million people are unemployed, and the jobless rate for the under 20 age group is 21 percent – 15 percent for 20- to 24-year-olds. The ratio of unemployed workers to job openings is 4.3-to-1.”
The author of this article included the chart listed above, which I assume is just for their local area in Minnesota. However, it gives a good indication of a general timeframe of when the change from predominantly Boomers to Millennials should start to occur. To read the entire article, click here.
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