Prudential's new paper, "Gig Economy Impact by Generation," builds on findings from Prudential's prior deep dive into the gig economy by examining how and why three different generations of workers--Millennials (ages 18-35), Gen
Xers (ages 36-55), and Baby Boomers (ages 56+)--exclusively take on freelance work.
"Gig economy" becomes important source of income
Generation
Xers are rapidly becoming a mainstay of organizations.
Nurses from Different Generations Work Together
GROUP AGE YEARS % in AF % in FM CIVIL CAREER SERVICE FIELD Veterans 65-86 1922-1943 2% 2% Baby Boomers 48-65 1943-1960 48% 52% Generation X 28-438 1960-1980 44% 41% Millennials 8-28 1980-2000 6% 5% Source: Grouping by age and years born from Zemke, Raines, and Filipczak, Generations At Work: Managing the Clash of Veterans, Boomers,
Xers and Nexters in Your Workplace.
Civilian financial management: generational change is coming to an organization near you: as a line in the song goes, the future is now--and the financial management workforce will never be the same
Early
Xers are the least bookish CEOs and legislators the United States has seen in a long while.
Who's smarter? What do the facts say about the generation that brought us Obama, Geithner and Palin?
To complicate matters, Generation
Xers are harder to lure into public management.
If I pass the baton, who will grab it? Creating bench strength in Public Management
They're younger than most homeowners you know: born roughly between 1965 and 1976, Gen
Xers are primarily in their 30s.
Deconstructing Generation X: log on, open up, and take the time to explain things
Rogers also says that Gen
Xers will be most immediately impacted by the Baby Boomers' huge vacuuming of Social Security resources, so they need to be given some alternatives.
Gen X grows up: the MTV generation, having shaken off adult responsibilities for two decades, now finds itself facing the same financial issues as its parents
* Nearly one in three Gen
Xers and one in three boomers surveyed report shopping online via a computer "all the time."
Retail Marketers: Top Shopping Behaviors for Gen X and Boomers - Blackhawk Network
Older millennials and Gen
Xers carry the most substantial amount of student loan debt, with a median amount of$30,000.
Gen Xers' Adult Children Influence Their Buying Decisions, Younger Millennials Become Buying Force According to Realtor Report
In fact, 49% of millennials, 48% of Gen
Xers, 38% of boomers, and 24% of seniors feel the same.
Report: Consumer confidence drives e-commerce growth
For income, the authors compared the inflation-adjusted earnings of full-time working millennials in 2014 with that of baby boomers (born from 1946 to 1964) working in 1978 and Generation
Xers (born from 1965 to 1980) working in 1998.
The kids are alright: millennials and the economy
This is more than double the amount of Baby Boomers (12%) who say the same, and substantially more than Gen
Xers (22%).
Among Generations, Millennials Have The Strongest Instinct To Plan Yet Feel The Most Anxious And Insecure They'll Get It Right
They are obviously the future, but they are still young and a long way from spending 'maturity.' This means that we can't ignore the Gen
Xers. They don't get much publicity, but they are next in line to the boomers," Gibbons said.
Pet Product Spending up $2.41B
Eighty-eight percent of millennial respondents also agreed that social media reinforced a tendency to compare one's wealth/lifestyle with that of others, compared with 71% of Gen
Xers and 54% of boomers who believed this.
Social Media Could Be 'Financial Achilles' Heel' for Millennials