What will happen economically when millennials grow up?

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           Whether it’s glamorous or not, everyone grows up eventually. One of the big questions in industries today is: what will happen to millennials when they grow up? With this generation climbing into the workforce rapidly, they are projected to make up 50% of the workforce by the year 2020 (Oesch, 2015). This means that by 2020, much of the economy will be contributed to by the millennials who are entering into adulthood. It is essential that the workforce understands just how this process will happen.  
            Economically speaking, millennials have it more rough than those who have come before. “Healthcare, housing and education are more than five times more expensive than they were for our (millenials') parents. There are fewer steady jobs. Wages have stagnated since the 1970s” (Millennials and the Economy, 2018). It is harder and harder to climb the economic ladder because there are fewer places to actually save money. “Millennials share apartments with people they don't know or with their parents, live hand-to-mouth, and subscribe to a culture of anxiety. They struggle with self-esteem and live their social lives online” (Ewens, 2016). Ewens paints a picture of the stressed, middle-aged millennial that is working tirelessly to make rent, pay bills, while still saving for a successful retirement.  
            Part of the reason millennials are so career driven and want to advance faster in their job field is because they are acutely aware of the struggles yet to come for their generation. “We're broke now, and we're likely to be living hand-to-mouth in later life, too. Ryan Bourne, head of Public Policy at the Institute of Economic Affairs, says that our generation will go into our 40s with far less accumulated wealth and be much poorer than we should be” (Ewens, 2016). So, as much as there are stigmas around this generation being the “Look at Me” generation, there are some major road blocks on the journey into adulthood (Karen, 2010).

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