black hillw knowledge network: introducing the millennials
DESCRIPTION
The millennial generation is predicted to be the largest generation in American history. This presentation shows the data regarding 20-30 year-olds in South Dakota.TRANSCRIPT
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Millennials
Eric Abrahamson & Jessica BoydBlack Hills Knowledge Network
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Millennials - 1980 – 200014-34 today
Generation X - 1960 – 198034-54 today
Baby Boomers - 1940 – 196054-74 today
Silent Generation - 1920 – 194074-94 today
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Demographics
- Millennials account for one in four Americans- Nearly 80 million people- 43% are non-white- In South Dakota, Millennials are roughly 27%
of the population (226,795 between the ages of 25 and 35)
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Education
• On course to become the most educated generation in history.
• One in three between the ages of 25-29 have a bachelor’s degree.
• In South Dakota, nearly three out of ten has a bachelor’s degree.
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Rank (1=best) State 2012
1 Massachusetts 48.4%
7 Minnesota 38.5%
13 North Dakota 35.3%
15 Nebraska 33.7%
17 Iowa 32.9%
19 Montana 32.2%
30 South Dakota 29.2%
46 Wyoming 23.4%
Percent (25-34) with a BA or Higher
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Debt
• Millennials are the “indentured generation”• 1993: 46% of Gen X graduated with average
debt of $15,000• 2011: 66% of Millennials graduated with
$27,000 in debt
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Student Debt in SD
• 78% of graduates of 4 year institutions had student loan debt – highest % in country
• Amount is approximately $25,000 lower than national average
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Economy
• Entering the workforce during worst recession since the Great Depression.
• Higher unemployment rates at all levels of education.
• In South Dakota, Millennials have the highest percentage of adults in the workforce.
• By the year 2025, 3 out of every 4 workers globally will be a Millennial.
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Life Experience in the Workforce
• Forced to change jobs frequently• Employers more reluctant to invest in people• Millennials more likely to switch back and forth
between sectors
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The End!
Questions?