Millennials Costing US Economy 376 Billion Annually

Millennials Costing US Economy 376 Billion Annually


Editor: Vladimir Bajic | Tactical Investor

 Gallup poll indicates Millennials are costing the U.S. economy more than $376 billion a year

The poll found that between 2008 and 2015, the economy lost approximately $949 million per day and $346.4 billion a year due to the lack of millennials spending money. An additional $30.5 billion was lost to high turnover rates in millennial employment.

 Great Recession main reason for Decline In millennial spending

“Among Americans overall, spending has declined since 2008,” Gallup said. “Currently, millennials spend an average of $85 per day and account for 28% of all daily per-person consumers spending in the U.S.”

The study showed 71 per cent of millennials were dissatisfied with their current job and were actively seeking new employment opportunities.

“Millennials have the capability to alter the very fabric of America,” Jim Clifton, CEO of Gallup, said. “Millennials are waiting longer to get married and have children, and they’re less likely than other generations to identify with specific religions or political parties.”   Full Story

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