This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Young Millennials _ Fiscal Conservatives?

Suddenly, she says, the "entitled generation," those who grew up in more prosperous times and were seen as having ridiculously high expectations for jobs and standard of living, was no more.

"That bubble burst the minute the economy started tanking, and they were the 'unemployed generation,'" Wells says. "They had to grow up."

She says the recession had a particularly profound effect on the political attitudes of younger millennials, who've come of age as the adults who preceded them have lost homes, jobs and retirement funds. It has set a decidedly grimmer tone as their age group also has faced the highest unemployment rate of any age bracket, while many others have had to take jobs below their qualifications.

"We heard about how our parents' bank accounts were shrinking and how money that was there one day was gone the next," says Jessie Wurzer, a 17-year-old in Fairport, N.Y.

She says it's left her and her peers "with a lingering anxiety about money and finances in general."

They worry about how they'll afford college, whether Social Security will be there when they're ready to retire and how the national deficit will affect them. That's why Wurzer now calls herself a "fiscal conservative."

At the same time, however, she considers herself a moderate on social issues, including gay marriage and abortion. So in traditional political terms, this generation is hard to peg.

Unemployment is now the top concern among young people, says Deborah Maue, vice president at TRU, a Chicago-based research company that specializes in tweens, teens and young adults. Just after the 2008 election, unemployment ranked fifth, behind such issues as education and health care.

But, Maue, says this is a generation that's also passionately "hands off" on social issues. TRU's research also has found that teens are increasingly uninterested in organized religion.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs