finance and employment report 2013
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Employment & Finance Report 2013
09.20.13
What Millennials Really Think About Employment & Finance
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Who was Involved?
Buzz Marketing Group’s Shopping Report 2013 is based on qualitative and quantitative research conducted with 500 buzzSpotters® throughout the United States during the month of March, 2013. This report is available for download at www.buzzmg.com/reports.
Composed based on data from 3.8.2013 – 3.22.2013
500 Participants 9,000 Panelists
53% Female 47% Male
Survey fielded online
Ages 18-34 18-22 17% 23-26 25% 27-30 31% 31-34 27%
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
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Location
NY 14%
CA 11%
IL 12%
TX 8% PA
7% DC 6%
FL 7%
GA 6%
MA 7%
MI 5%
Rest of USA 17%
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
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Ethnicity
White 25%
Black 25%
Asian American
15%
Hispanic 25%
American Indian 3%
Mixed 7%
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
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Marital Status
Single 36%
DaPng 6%
In a relaPonship
26%
Married 30%
Divorced 2%
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
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Education
High school diploma 27%
Associates Degree 14%
Bachelors Degree 46%
Masters Degree 11%
Doctorate 2%
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
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Employment Unemployed
5% Working part-‐Pme
15%
Working full-‐Pme 52%
Self-‐employed
6%
A student 12%
A full-‐Pme home maker
11%
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
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Household Income
Less than $8,000
$8,000 -‐ $33,000
$33,000-‐ $82,000
$82,000 -‐ $170,000
$170,000 -‐ $370,000
More than $370,000
I don't want to specify
2%
23%
46%
22%
1% 0% 5%
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
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How financially secure do you feel?
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
Extremely secure
Very secure Secure Not very secure
Extremely insecure
4%
15%
45%
31%
6%
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Do you receive financial assistance from anyone or
any organization?
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
I support myself
Family Government Friends Charity / Non-‐profits
Religious OrganizaPons
79%
28%
8% 3% 1% 1%
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Which percentage of your income is disposable?
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
0% -‐ 10 % 10-‐ 20% 20%-‐30% 30% -‐ 40% 40% -‐ 50% More than 50%
28%
23% 24%
12%
8% 5%
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Are you saving for retirement?
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
I am sPll undecided about whether I want to save or not
I am not even considering a rePrement fund
Yes I am saving plenty of money for rePrement
I haven't started but I plan to
Yes, I started saving a lible bit of money
2%
9%
13%
36%
40%
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When you have extra money what do you usually do with
it?
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
Save it Spend it Invest it Donate it Lend it out
52%
42%
5% 1% 1%
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Do you keep a record of what you spend?
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
No, I have no idea about how much I am spending
No, I don't really know how much I am spending
Yes, I know exactly how much I am spending
No, but I have a general idea of what I am spending
Yes, I know more or less what I am spending
3%
3%
28%
32%
34%
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Do you invest in the stock market or in bonds?
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
Yes 32%
No 68%
Stock market
Yes 23%
No 77%
Bonds
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Do you have a credit card?
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
Yes 76%
No 24%
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If you were unemployed, which of the following would
you be most likely to do?
Keep looking Create a job Take any job Go back to school
41%
26% 21%
13%
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
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Key Findings Although jobs may be harder to come by these days, Millennials are not ready to just take any job. 41% of Millennials said that they would “keep looking” for a job that they wanted if they were unemployed, while 26% said they would “create a job”, and only 21% said they would take any job.
Millennials are keeping track of how much they are spending, however the majority of Millennials are using credit cards and very few Millennials are investing these days. 94% of Millennials reported that they know “more or less” how much they are spending and 34% of those know “exactly” how much they are spending. Meanwhile 76% of Millennials have credit cards but only 32% invest in stocks and 23% in bonds.
The majority of Millennials support themselves, feel financially secure and are already saving for retirement. 79% of Millennials said they support themselves and 64% reported that they feel financially secure. 53% of Millennials are already saving for retirement and another 36% plan to start saving soon.
What Millennials Really Think About Employment & Finance
Employment & Finance Report 2013
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