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Keywords:millennials OR Millennials 

Journal Article
Men’s Falling Labor Force Participation across Generations

The labor force participation rate for prime-age men has been declining for decades. About 14% of millennial males at age 25 are not in the labor force, compared with 7% of baby boomer males when they were that age. This generational gap declines substantially as groups approach middle age; the decline reflects that younger millennials enrolled in postsecondary education at higher rates and moved into the workforce later than prior generations. The convergence for millennial males suggests that the trend of men’s higher nonparticipation rates may slow in the future.
FRBSF Economic Letter , Volume 2023 , Issue 06 , Pages 6

Discussion Paper
Millennials with money revisited: updates from the 2014 Consumer Payments Monitor

Overall growth in general purpose reloadable prepaid card ownership was not as robust between 2013 and 2014 as it was between 2012 and 2013 except in one notable segment: high-income Millennials. This same demographic group also exhibited a strong propensity to use alternative financial services along with traditional bank products. This paper further explores this group of ?hybrid? financial services consumers. It also examines the broader use of financial services by young adults and reports on ways in which their choices differ from those of older consumers, along with evidence that ...
Consumer Finance Institute discussion papers , Paper 15-6

Millennials and Older Gen Zers Made Significant Wealth Gains in 2022

The wealth of U.S. millennials and older Gen Zers grew at an unusually fast pace from 2019 to 2022, with real estate gains driving overall asset growth.
On the Economy

Older Millennials Experience Pandemic Hardships Unequally

For those born in the 1980s, hardships during COVID-19 can vary greater because of one’s race, ethnicity or educational attainment.
On the Economy

Discussion Paper
Millennials with money: a new look at who uses GPR prepaid cards

Phoenix Marketing International is a top 40 Honomichl market research company that annually fields an omnibus financial services survey that collects information from a representative sample of American households. Beginning in 2012, the survey added a series of questions designed to gather data on ownership and use of general-purpose reloadable (GPR) prepaid cards. This paper reports on those findings, including the discovery of a "power user" segment of the market composed of young and mid- to upper-income consumers who own and use GPR cards at rates well above the market average. Younger ...
Consumer Finance Institute discussion papers , Paper 14-3

Working Paper
Are Millennials Different?

The economic wellbeing of the millennial generation, which entered its working-age years around the time of the 2007-09 recession, has received considerable attention from economists and the popular press. This chapter compares the socioeconomic and demographic characteristics of millennials with those of earlier generations and compares their income, saving, and consumption expenditures. Relative to members of earlier generations, millennials are more racially diverse, more educated, and more likely to have deferred marriage; these comparisons are continuations of longer-run trends in the ...
Finance and Economics Discussion Series , Paper 2018-080

Briefing
Social Media for Personal Finances: A New Trend for Millennials and Gen Z

Younger generations—specifically, millennials and Gen Z—increasingly turn to social media for personal finance purposes, such as making and receiving payments, crowdfunding, shopping, and financial education. While the financial tools provided by social media offer benefits, such as convenience and community, they also come with risks, such as increased fraud and misinformation.
Payments System Research Briefing

Millennials Are Catching Up in Terms of Generational Wealth

From 2016 to 2019, millennials born in the 1980s became relatively wealthier, though they still lagged in relation to wealth expectations.
On the Economy

Assets and Debt across Generations

This analysis examines the household wealth that baby boomers, Gen Xers and millennials each held at age 30, comparing these generations’ assets, debt and net worth.
On the Economy

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