Millennials

Eric Abrahamson & Jessica BoydBlack Hills Knowledge Network

Millennials - 1980 – 200014-34 today

Generation X - 1960 – 198034-54 today

Baby Boomers - 1940 – 196054-74 today

Silent Generation - 1920 – 194074-94 today

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)

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.

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

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

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

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.

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

The End!

Questions?