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Forty-seven percent of millennials were willing to take on debt to fund summer travel. Gen Z trailed close behind, with 42%, while Gen X and boomers were 31% and 22%, respectively. AdvertisementMeanwhile, Credit Karma's survey found that nearly 40% of Gen Z and millennials said they'll prioritize summer travel over their finances. Funding a summer of funNearly a quarter of Gen Z and millennials anticipate going into almost $2,000 in debt across the summer, according to Credit Karma's survey. For 11% of Gen Z and 8% of millennials, that summer debt forecast surpasses $4,000.
Persons: , Taylor Swift, Credit Karma, Zers, Gen Z, Gen X, millennials, Gen, they're, X Organizations: Service, Credit, Bank of America, Business Locations: Europe, Southeast Asia, Florida, California
The American Psychological Association highlights findings that people who find their jobs meaningful are more engaged, show up to work more, and are healthier. Many in those industries have begun to refer to their work as "fake email jobs" — office jobs that largely involve sending emails without producing anything. Other people have managed to juggle multiple full-time remote jobs thanks to the limited amount of work each job actually required. Working a useless job is a "profound psychological violence," Graeber wrote, one that removes any sense of dignity and fosters "deep rage and resentment." Short of everyone quitting to become their own CEO, employers will need to figure out how to make work feel meaningful for their staff.
Persons: it's, Zers, Pew, Gen Zers, I've, Graeber, David Graeber, Simon Walo, , Walo, Brendan Burchell, Burchell, Clay Routledge, Routledge Organizations: Pew Research, American Psychological Association, University of Zurich, University of Cambridge Locations: Italy, Spain, Sweden
AdvertisementThe average annual salary for a customer service rep in the US is $34,000 - $46,000, according to Glassdoor. Sutton believes the influx of Gen Z and millennial workers is mostly due to remote work becoming the norm. The mental health tollBut while such remote jobs are often portrayed as relatively stress-free, the reality is much more complex. Almost 50% also said an "unfriendly support agent" was what they found frustrating about a negative customer service experience. Sutton started posting on TikTok because she saw "an opportunity to shed light on the realities of customer service."
Persons: , Dave Hoekstra, Jason Saltzman, Gen, Saltzman, Gabrielle Judge, Judge, Glassdoor, Gen Zers, Hoekstra, Brittany Betts, Daineshe Sutton, Sutton, Z, Zoomers Organizations: Service, Business, Technologies, Disney
Gen Zers, it turns out, are "not on a linear journey to evaluate the veracity of anything." In other words, Gen Zers know the difference between rock-solid news and AI-generated memes. For Gen Z, checking what other people are saying in the comments isn't shallow. The aim is to reach Gen Z readers where they live — scrolling through the comments — and turn them into subscribers. But I'll confess that I worried about the idea that Gen Z checks the comments to decide what to believe.
Persons: Z, Gen, Yasmin Green, Gen Zers, they're, Zers, Jigsaw, it's, they've, bros, influencers, Beth Goldberg, Jigsaw's, It's, Goldberg, Donald Trump, Trump, Z's, Ukraine —, They're, David Rothschild, I'm, ruefully, Adam Rogers Organizations: Media, Google, CNN, The New York Times, Times, NYPD, Research, Microsoft Research, Pew Research Center, Facebook, Business Locations: New York, Ukraine, Russia
The Google-owned video platform dominated streaming TV viewing for all of 2023, ahead of Netflix, by one widely cited measurement. It also only includes free YouTube, not YouTube TV, YouTube's pay TV service. With those platforms included, YouTube takes second place in monthly TV viewing, behind linear giant Disney, with an 11.5% share. In 2023, YouTube reached a deal to make NFL's Sunday Ticket games an add-on for YouTube TV subscribers. YouTube TV is a $72.99 a month bundle of TV channels.
Persons: , It's, Here's, Nielsen, isn't, it's, influencers, Gen, Zers, alums Organizations: Service, YouTube, Google, Netflix, Disney, Warner Bros, Paramount, NFL, Business, Showtime, Starz, Procter, Procter & Gamble, Nielsen, Hollywood, Madison Ave, Read, Shorts, Warner Bros ., Deloitte, Alpha Locations: Procter &, Netflix's
Economic commentator Kyla Scanlon is noticing a potentially worrying trend in the investing outlook among younger generations. "But then you have the other side, which is an element to financial nihilism, where people don't want to save for retirement. They don't want to save money in general because they don't believe the future is there." Scanlon is aiming to bridge Gen Z's divided financial attitudes with her new book, "In This Economy? "The younger generation definitely wants [homeownership], because there's a lot of financial benefit to having equity," she said.
Persons: Kyla Scanlon, CNBC's, Scanlon, Gen Zers Organizations: National Association of Realtors
In some ways, they're actually faring better than their older millennial peers, and their struggles point to larger cracks in America's social support systems. Younger millennials are getting creative about becoming homeowners, explained Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors. Because younger millennial women are focused on their careers, they're continuing the overall millennial trend of delaying family formation. AdvertisementAnd some of younger millennials' accumulated wealth has faded thanks to inflation, Ricketts said. He pointed out that younger millennials who invest their wealth well are more likely to consume and drive economic growth.
Persons: I've, , Diana Elliott, somethings, Gabby Davis, Davis, Gen Z, Cuspers, they've, Elliott, they'll, millennials, Rollin, Zers, Louis Fed, didn't, Louis, Lowell Ricketts, Ricketts, aren't millennials, who've, Younger millennials, Jessica Lautz, They're, Lautz, they're Organizations: Service, Pew, Population Reference, Louis Fed, Fed, National Association of Realtors, NAR, Young Locations: U.S
Gen Z is struggling to find love amid various dating challenges, and it's largely because dating apps have made them too picky, according to one relationship therapist. Gen Z generally refers to the generation born between 1997 and 2012. "When we're on dating apps, the way that we can filter people is not conducive to actually finding someone who's a really good match." "Dating apps have forced us to prioritize things that don't actually matter in relationships," Guenther explained. The illusion of choice on dating apps means Gen Z is rejecting people over inconsequential details.
Persons: Z, Jeff Guenther, Jeff, Guenther, Gen, they're, they'll, Gen Zers, Gen Z, there's, " Guenther Organizations: CNBC, The
AdvertisementAmong all respondents, millennials and Gen-Z users aged 18 to 26 were the biggest buyers on TikTok Shop when compared to younger Gen Zers and Gen Xers. Most baby boomers surveyed said they'd made no purchases on TikTok Shop. TikTok is doing a good job of hanging onto customersShoppers often make a purchase on TikTok Shop in response to a particularly compelling piece of content on their feed. Earnest Analytics, which tracks credit and debit card transactions, found similarly strong retention numbers for TikTok Shop in a report released earlier this year. Earnest found that around 27% of TikTok Shop customers came back to make another purchase within five months of their first buy.
Persons: , Instagram, they'd, millennials, Gen Zers, Xers, Gen, Claire Tassin, TikTok, Earnest, Will, Tassin Organizations: Service, YouTube, Facebook, Business, Shoppers, TikTok, Shop, Meta
How Gen-Z buyers are changing the bridal fashion business
  + stars: | 2024-06-21 | by ( Yola Mzizi | ) edition.cnn.com   time to read: +9 min
A bridal look from Collina Strada, presented at New York Fashion Week in September 2022. Aurora Rose/ShutterstockA bridal look from Sandy Liang, presented at New York Fashion Week in February 2023. Avalon/dpa/picture alliance/Sipa USAMillennial and Gen-Z brides-to-be like de Quesada are no longer shopping for just a wedding dress, but an entire wardrobe for pre- and post-wedding events. That breadth is propelling the global bridal wear market, which is projected to grow at a rate of 3.5 percent annually and is expected to reach $83.5 billion by 2030, according to the Global Bridal Wear Market Industry report. Efren Landaos/Sipa USAFor an emerging designer like Wiederhoeft, bridal is something of a safety net, serving as “a floating line of credit” for the rest of their business.
Persons: , Christyne de Quesada, ” de Quesada, , ShuShu Tong, Vera Wang, Gabriella Arango, Gucci, Collina Strada, Aurora Rose, Sandy Liang, de Quesada, it’s, , Caroline Crawford Patterson, Dua Lipa, Simon Porte Jacquemus, Marco Maestri, Arnold Jerocki, Crawford Patterson, Anthropologie, It’s, Jackson Wiederhoeft, Wiederhoeft, “ It’s, Efren, Millennials, Hillary Taymour, Taymour, JP Yim, Andrew Kwon's, Rodin, Andrew Kwon, Kwon, Brigitte Chartrand Organizations: The, Fashion, CNN, New York, Avalon, Cion Investment Corp, Abercrombie, Fitch, Census Bureau, Pew Research Center, Designers, ” Retailers, Ssense Locations: Venice, Italy, Mexico City, Miami, Shanghai, Florida, Dua, Charleval, France, New York, New, New York City, , Ssense
Baker is an example of a Gen Z boss who is setting a new standard for productivity by prioritizing her team's mental health and work-life balance. Related storiesLike Hodgson, Winsbury never worked for anyone else and has never even been to a job interview. "We're also constantly pushing our team to make sure that they are having a life outside of work," Winsbury said. Fellow Gen Zers, he said, can be frustrating to work with because they have been conditioned to be impatient. Hodgson said Gen Zers "get a bad name" for being work-shy, but he doesn't think that's the whole story.
Persons: , Raven Baker, Baker, X, who's, Raven Baker Oliver Hodgson, Hodgson, he's, Oliver Hodgson, Darren Robinson, Sam Winsbury, Winsbury, it's, We're, Daniel Hambury Jessie Urvater, Margot Adams, Jessie Urvater, Jessie Urvater Michelle Enjoli, Enjoli, Zers, I'm Organizations: Service, Business, Kurogo
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHousing has become so unaffordable in Ireland that younger people are increasingly moving back in with their parents — or never leaving their childhood homes, to begin with. According to the 2022 Irish census, 41% of people between 18 and 34 years old lived with their parents — a nearly 10% increase from about a decade ago. Among 30-year-olds, 20% were living with their parents in 2022 — a jump from the 13% who were in 2011. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Service, Business Locations: Ireland
Read previewSome millennials and Gen Zers are embracing "quiet quitting" as a means of ending friendships. "While losing enduring connections can lead to feelings of isolation or missing out, quiet quitting may also be a healthy way for millennials and Gen Zers to prune their social lives, allowing new, richer relationships to grow," he added. Quiet quitting can lead to regret, experts sayMark Vahrmeyer, a psychotherapist and cofounder of Brighton and Hove Psychotherapy, told BI that the consequences of quiet quitting depend on the circumstances. Sophie Mort, a clinical psychologist and mental health expert at Headspace, told BI that quiet quitting to avoid conflict will lead to feelings of regret, as unresolved feelings remain permanently unaddressed. AdvertisementMargaret Bankole, a friendship and relationships counselor, told BI that quiet quitting can be harmful for both sides, as it will ruin the opportunity to gain closure.
Persons: , Zers, Melissa Ann Marie, Marie, 168,7000, gossiped, Daniel Glazer, Blaquier, Mark Vahrmeyer, Sophie Mort, Margaret Bankole Organizations: Service, Business, Brighton, Hove Psychotherapy Locations: millennials, Argentina, Buenos Aires, Hove
Many NEETs are listless, struggling through tough economic times, living off loans, and losing hope of retirement or buying a house. Voluntarily idleSome Gen Zers struggle to find a job or stay in work or education, earning the nickname "disconnected youth." But some Zoomer and millennial NEETs are happy to wait out unemployment for the right career path. Advertisement"It reveals how much shame in guilt is built into our every day lives," Pitcher told BI of being a NEET. This gives him faith that things will be OK, he told BI.
Persons: , Zers, Louis, Morgan Pitcher, Pitcher, Leonie, Lukas, James Watts, Gen Zers, Watts, Laurie Cure, Darrin Murriner, Murriner Organizations: Service, International Labour Organization, Business, Gallup, St, Louis Federal Reserve's Institute for Economic Equity Locations: Vancouver
In a recent Businessolver survey, 52% of CEOs said their workplace culture was toxic. AdvertisementCEOs are having a hard time, tooBusinessolver also found that many corporate chiefs are struggling with their own mental health challenges. Fifty-five percent reported having had mental health issues in the past year, a jump of 24 percentage points. Those challenges haven't necessarily translated to a change in how those with mental health concerns might be perceived inside organizations. AdvertisementBeyond that, the fix could involve looking at what workers say will help their mental health.
Persons: , they're, Rae Shanahan, Shanahan, Gen Zers, Businessolver Organizations: Service, Business,
AI skills could rival job experience in hiring decisions — and not just in techClose to 70% of leaders say they won't hire someone without AI skills and would rather hire a less experienced candidate with AI skills than a more experienced person without them, according to the report, which surveyed more than 30,000 people in 31 countries. Some companies including Google and Amazon have announced investments in teaching their workforce AI skills, but such initiatives aren't the norm: Only 25% of companies are planning to offer training on generative AI tools like ChatGPT and Microsoft Copilot, Microsoft and LinkedIn found. There are dozens of free online courses people can use to learn AI skills offered by companies like IBM and Google and Ivy League institutions like Harvard University and the University of Pennsylvania. "Less than two years after generative AI burst onto the scene, we're seeing this technology being woven into the fabric of work across a wide range of industries," Stallbaumer says. Generative AI tools in particular have seen a surge in workplace adoption, with usage doubling in the last six months, Microsoft and LinkedIn report.
Persons: Raman, it's, Colette Stallbaumer, Stallbaumer, It's Organizations: , Microsoft, LinkedIn, CNBC, Google, IBM, Ivy League, Harvard University, University of Pennsylvania
I've heard people say Gen Z doesn't know how to dress for the workplace. Gen Z fashion is fun and quirky, and we're into self-expression. 40% of Gen Z and millennial consumers say that environmental impact is an extremely or very important factor when purchasing. People in my industry tend to have colorful or eclectic ways of dress, and I don't have a problem with that. AdvertisementIf older generations want to dress in more traditional business attire, it's none of my business.
Persons: , Maya Penn, I've, Penn, It's, We're, Zers, I'm, Z, Gilberto Tadday, there's, haven't, we're Organizations: Service, Business, Fortune, Penn Locations: Atlanta, TEDWomen, Etsy, California
Read previewWeddings are expensive, but guests are saying it's not up to them to help couples make ends meet with pricey gifts. You go to the wedding to pay for you, you cover your plate, and give them something." "If you're expecting your wedding guests to shovel out 300 plus dollars to attend your wedding, you are out of your fucking mind," Farmer said. "It's not your wedding guests' responsibility to fund your ridiculously expensive wedding." "I told everyone who traveled to my wedding that their presence was the wedding gift!"
Persons: , it's, EmpathEyes, aren't, Kat Thomas, Thomas, I've, that's, Farmer, commenter, Gen Zers, Gen Organizations: Service, Business, Newsweek
Younger generations sometimes rely on family for financial support, but the opposite is also true. Gomez liquidated his assets and gave money to his dad to help pay off the loans. Hughes also sets aside some money each year for a fund to help other family members. "I would fund an account at the beginning of the year, and then if anyone in the family asked me to borrow money, it would come out of the family fund," Hughes said. "If they paid it back, it would go back into the family fund," Hughes said.
Persons: Millennials, , Zers, they're, Jose Gomez, Gomez, Steven M, Hughes, he's, Z, Britni, Cartwright, wasn't, She's Organizations: Service Locations: United States
But the terms' recent popularity suggests people want to understand how they fit into the broader economy beyond standard measurements. But that, too, is uncertain: She said she was "dangerously close" to losing the aid because her income is too high. ALICEs tend to be older or younger workers, and while they're represented across racial groups, they're more likely to be Black or Hispanic. HIFI: High Income, Financially InsecureHIFI is the latest acronym to join the club. In a 2021 Medium post, Erica Dhawan defined "geriatric millennials" as millennials born in the early 1980s.
Persons: ALICE, HENRY, Kory, Anthony Klotz, Kantenga, DINK, They've, they've, Eric Anicich, Henry, Alice, haven't, Sarah, she's, — there's, they're, Carrie, Gen Zers, Brenton, Mirlanda, Neiman Marcus, Katie Notopoulos, Paige Connell, Connell, Chrissy Arsenault, Arsenault, Jimmy Simpson, who've, Rich, Christopher Stroup, Stroup, HIFIs, Erica Dhawan, Dwahan, Louis, , Jewel Benjamin, Benjamin, micromanaging, Erin Snodgrass, Jacob Zinkula Organizations: FIRE, Business, LinkedIn, Texas, USC Marshall School of Business, : Asset, SNAP, Los Angeles Times, DINKs, Public School, Financial Independence, Sherwood News, Federal Reserve Bank of St, Federal Reserve, University of Michigan Health, Social, Social Security Locations: POLK, City, Dallas, Boston, Massachusetts, Colorado, Santa Monica , California, millennials, Georgia
Insider Today: Travel agents are back
  + stars: | 2024-06-16 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +5 min
This week's dispatchRob McElhenney is Business Insider's June 2024 digital cover star. Edmon de Haro for BITravel agents are backFollowing the pandemic-era lockdowns, people are hungry for travel. The interest in having someone else plan a vacation is returning travel agents to their '90s glory. How travel agents came roaring back. Art Wager/Getty ImagesEveryone's moving to TexasMovers from all corners of the US are flocking to Celina, Texas, a small town about 41 miles north of Dallas.
Persons: , Rob McElhenney, Sheryl Nields, Rob McElhenney's, Rob McElhenney breezed, would've, McElhenny, Samantha Rollins, Lucia Moses, Ryan Reynolds, McElhenney, Rob it's, de Haro, Zers, Z, Wager, Chelsea Jia Feng, Uma Naidoo, Naidoo, Liam Daniel, we're, Dev Patel's Organizations: Service, Business, Wrexham AFC, Wrexham, BI, Texas Movers, Getty, Cunard, Food, Harvard, Vivid Locations: Bali, Philadelphia, Culver City, Los Angeles, English, Wales, Wrexham, Houston , Texas, Texas, Celina , Texas, Dallas, Celina
Read previewGen Zers are feeling pretty good about their financial situations right now. That was especially true for younger generations — over 60% of Gen Z and millennials said they were optimistic, compared to less than 50% of Gen X and baby boomers. How Gen Z can feel good about themselves — but still worry about high pricesBI has previously reported that many aging boomers and Gen Xers cannot retire or are struggling financially in retirement. But when it comes to retirement preparation, Gen Z might be ahead of the game. According to a survey last year from the CFA Institute, over half of Gen Z respondents said they were already investing, and 82% of them started doing so before turning 21.
Persons: , it's, millennials, X, Zers, Charlie Wise, Wise, Gen Zers, Gen Xers, Gen, that's Organizations: Service, Federal Reserve, TransUnion's, Business, TransUnion, Alliance, Lifetime, Income, Social Security, CFA Institute, American Enterprise Institute
Insider Today: Meta's manager squeeze
  + stars: | 2024-06-16 | by ( Matt Turner | ) www.businessinsider.com   time to read: +5 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Apple announced Apple Intelligence at WWDC 2024. CEO Tim Cook unveiled Apple Intelligence, a generative AI system partly powered by ChatGPT (for now). Assuming Apple Intelligence works as intended, there will be even more reason to switch to or stay with Apple. Add it all together, and, as Linette Lopez writes, Apple may be the one Big Tech company getting AI right.
Persons: , there's, Jimmy Donaldson, Justin Sullivan, Apple, Tim Cook, Katie Notopoulos, OpenAI, Linette Lopez, Alyssa Powell, Fitch, it's, Abercrombie, Mark Zuckerberg, Michel Shvo Patrick McMullan, Chelsea Jia Feng, Michael Shvo, Shvo, he's, Grace J, Kim, Gen Zers, There's, isn't, Z Organizations: Service, Business, Apple, Apple Intelligence, Google, Microsoft, Big Tech, Getty, Abercrombie, Fitch, GameStop Locations: cologne, New York City
New college graduates are having a harder time finding work, and as a result, some of them could see their careers and earnings take a hit for years. Meaning that recent college graduates have been more likely to be unemployed than the broader population. This new normal has worked out OK for some Americans, but it's been particularly tough on new college graduates. While the tough job market could temporarily hurt some young graduates' earnings, there's reason to be optimistic that their finances could eventually recover. But if the job market continues to prove frustrating, some of them may begin to wonder.
Persons: Lohanny Santos couldn't, Zer, Santos isn't, overqualified, millennials, Gen Zers aren't, Julia Pollak, ZipRecruiter, it's, — aren't, they'd, , grads —, Goldman Sachs, Elise Peng, Louis, who's Organizations: Service, Business, New York Fed, NY Fed, Meta, Rice University's, Bloomberg, LinkedIn, National Association of Colleges, Glass Institute, Strada Education Foundation, Federal, Louis Fed
They love to customize their food, they're suckers for a menu hack, and they crave spicy dishes, restaurant executives and experts say. Menu hacks fly on social mediaGen Zers are more inclined to try out menu hacks, creating new dishes using items already available on the menu. AdvertisementAt Caribou Coffee, younger customers — Gen Alpha, Gen Zers, and younger millennials — are most likely to modify their drinks, CMO Erin Newkirk told BI. They crave spicy foodGen Zers are big fans of spicy food, executives previously told BI. In a 2022 poll by Morning Consult , US Gen Z respondents listed chicken as their second-favorite food overall, behind only pizza.
Persons: , Gen, Taylor Swift, Zers, They're, Joe Labombardo, It's, Alessandro Biascioli, Lizzy Freier, Tom Boland, he'd, Boland, Piper Sandler, Justin Sullivan, Labombardo, Gen Z, Alpha, Gen Zers, millennials, Erin Newkirk, Andy Rebhun, Kuttig, Gen Zs, pao, it's, Liang Lim, Cane's, Joe's, Z, they're, Caribou's Newkirk Organizations: Service, Business, Higher, Getty, Bojangles, Coffee, El Pollo, Morning, Piper, Foods Locations: Chipotle, Nashville
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