The Economic Innovation Group and Ernst and Young surveyed 1200 millennials and found that, basically, everything sucks.
Coming of age during a historic economic downturn has severely impacted Millennial life* 30 percent of respondents live with their parents, which rises to 40 percent for single respondents.
* Nearly one-third believe their local community is still in a recession.
Stress levels run high for Millennials
*78 percent of Millennials are worried about having good-paying job opportunities.
*
74 percent are worried they won’t be able to pay their healthcare bills if they get sick.*
79 percent are worried they will not have enough money to live on when they retire.*
Only 6 percent of Millennials feel they are making a lot more than required to cover basic needs. For Millennial women, the figure is only 3 percent.*
63 percent would have difficulty covering an unexpected $500 expense.*
44 percent would dedicate $5,000 in lottery winnings to paying off bills and loans, signaling a struggle to launch, save, and invest.
The Millennial Economy National Survey Findings
[Economic Innovation Group]
The Quiet Desperation of Millennials
[Yves Smith/Naked Capitalism]