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Economic crisis won’t dampen our spirits – Youth
An unprecedented global insight into the millennial generation of today.
November 18, 2012 4:02 by Muhammad Aldalou
In what Viacom describes as an unparalleled and groundbreaking new study, we are given a deep and personal insight into how the global millennial population looks at life. ‘Despite significant economic concerns, the vast majority of millennials are very happy’, the study notes.
The study, spanning every continent and harvesting the perspectives of the youth (9-30), was presented by Fahey Rush, Chief Research Officer at Viacom and attempts to encapsulate what the next ‘normal’ is among the youth, how they look at life and what is important to them.
“The Next Normal’ is the broadest single study of the Millennial generation to date,” says Rush. “It is a truly detailed understanding of this complex generation from all corners of the world, and is without a doubt the definitive guide to this demographics’ evolution. These insights will help inform our content and further strengthen our connections with millennial audiences around the globe.”
The all-powerful economy crawled its away to the highest rank as being the top factor that impacts the generation today – with 68 percent noting that they were personally touched by the global economic crisis but over 76 percent describe themselves as very happy and their happiness-to-stress ratio is over two to one. In 2006, 38 percent of young people strongly believed that they will earn more than their parents. Today – in the post-crisis era – that belief hasn’t died out but only 25 percent strongly agreed that it will happen.
Moving past the mushy-happy talk, the fact remains that unemployment is the top global issue that the young want to solve, even more so than world hunger. Approximately half of them (49%) believe that job security will get worse but almost 80 percent would say they would rather have a minimum wage job than no job at all.
While the Millennial population is constantly labeled as technology-driven-social-media-addicted zombies, the study shows that they feel social media has had a beneficial effect on their relationships and that they are not dependent on it but rather enhanced by it. If asked, a Millennial might say, “Technology doesn’t make me who I am. It lets me be who I am.”
Lastly, the study touched on the ‘we versus me’ phenomenon – which highlights a growing trend of the millennial generation looking out for a sense of belonging and community. There is a stronger desire to share and connect.
-87% are actively curious about the world.
-87% apply the phrase “sharing and connecting” to themselves.
-85% describe themselves as able to adapt quickly to change.
-93% globally believe it’s our responsibility to treat all people with respect, regardless of race, gender, religion, political viewpoint or sexual orientation.