After a promising start, things aren’t working out so hot for Gen Y-ers, and they are freaking out. Dubbed the “quarterlife crisis,” symptoms include disillusionment, liberal-arts student loans and a penchant for third-world travel. While their parents (and Gen X) put their noses to the grindstone, Gen Y is picking up their heads to see if they can’t do something AMAZING. While they make their big plans, moving back in with Mom and Dad seems like the best option.
“One-third of people in their 20s move to a new residence every year. Forty percent move back home with their parents at least once. They go through an average of seven jobs in their 20s, more job changes than in any other stretch. Two-thirds spend at least some time living with a romantic partner without being married. And marriage occurs later than ever” (New York Times).
“More than half (53%) of Gen Y employees (ages 21-32) say they are now living paycheck to paycheck — up from 50% in 2007 — versus 44% of their older associates. And nearly three in four (73%) are very concerned about having enough money to make ends meet, compared to 56% of Generation X employees and 62% of Baby Boomers, according to MetLife’s 7th annual Employee Benefits Trends Study” (Forbes).
“The scientists found the children’s brains were not fully mature until at least 25…Synaptic pruning intensifies after rapid brain-cell proliferation during childhood and again in the period that encompasses adolescence and the 20s” (New York Times).
“A whopping 40% of students and 45% of young employees say they’d take a lower-paying job over a higher-paying one if it meant better social media access, more mobility, and more choice in which technological devices they used” (CBS News).
“Among all 18- to 34-year-olds, only 30% consider their current job a career. This compares with 52% among workers ages 35 and older” (Pew Research Center).
Have you ever met a Gen Y plumber?