As Gen Xers reach midlife, they are emerging as one of the most active age cohorts and an overlooked pool of leadership and entrepreneurial talent. Here are five interesting facts about Gen X at midlife:
- Gen Xers like their jobs – They are both more likely to be employed and be more satisfied with their jobs than Americans in general.
- But feel stuck in their careers – Boomers are delaying retirement and ambitious Millennials are leapfrogging into management positions. “41% of Xers are unsatisfied with their current rate of advancement and 49% feel stalled in their careers.”
- They are under financial stress - While all generations have suffered from the Great Recession and the housing bust, Xers have been at the forefront of every economic shock and blow to middle-class incomes since the 1980s. They worry they won’t be able to afford higher education for their kids, won’t be able to support their retiring parents, and won’t be able to rely on Social Security.
- Yet they are happy and maintain excellent life balance - Along with their exceptionally high commitments to work and family, Gen Xers still manage to engage in myriad of professional and community activities and are happy with their lives.
Lastly, and very importantly…
- They are embracing entrepreneurship - Millions of Xers have turned their career challenges into an advantage by embracing entrepreneurship, more than any other living generation: In fact, nearly 40 percent of Gen X men and more than a quarter of Gen X women aspire to be entrepreneurs. In many cases, they do it alongside their full-time job. They are ambitious, resilient, and technologically adept. From gourmet cupcakes to Google, Gen Xers launched businesses at three times the rate boomers did while age 25 to 35, according to research by the Center for Work-Life Policy and reported by Bloomberg here.
Groups like the Kauffman Foundation understand the importance of early stage companies to the economic future of the US. In fact, Kauffman research shows that startups are responsible for almost all net job growth in the U.S. economy for all but seven years (going back to 1977), and the top 1% of high-growth startups generate almost 10% of all new jobs. That's why Kauffman has teamed up with the Case Foundation to launch the Startup America Partnership, a privately funded nonprofit, which connects entrepreneurs with the resources, networks and opportunities they need to grow.
With this kind of support, Gen X's leadership and passion for starting businesses will continue to be an important part of the next phase of the US economic recovery.
originally posted at the Trend and Foresight Blog.
Essays and comments posted in World Future Society and THE FUTURIST magazine blog portion of this site are the intellectual property of the authors, who retain full responsibility for and rights to their content. For permission to publish, distribute copies, use excerpts, etc., please contact the author. The opinions expressed are those of the author. The World Future Society takes no stand on what the future will or should be like.
Free Email Newsletter
To sign up for Futurist Update, our free monthly email newsletter, enter your email in the box below and click Save.
December 19, 2014 - In my last posting I presented ten disturbing statistics about our 21st century world. There are, however, signs that we humans haven't yet succumbed to a hopeless future. So let's look at ten technological innovations and the positive disruption they bring to this century, leading to a much better outcome by the year 2100.
December 18, 2014 - With 2015 a mere two weeks away I thought a year-in-review look at where we are trending would give humanity a sense of urgency about tackling the many challenges we are imposing on our species and the other inhabitants of this planet.
December 17, 2014 - Move over Earth. You are probably no longer the sole source of life in the Universe, or even in the Solar System.
December 16, 2014 - Desalination of Pacific Ocean water may prove to be a cheaper solution for California then massive relocation of its cities as
A cybotopia would be a world in which cyborgs and AI machines and systems dominate and rule over “unenhanced” humans, turning human beings as we know them today into a sub-species, or lower-order being.
A dystopia, transliterated from Greek roots of this word, is a “not good place”. It’s a society which is profoundly dysfunctional by the standards of human civilization.
December 15, 2014 - I am asked this question a lot. My answer is simple. Weather is what is happening today and being forecasted over the next few days. It is the daily phenomena of local atmospheric churning. On any given day the weather we experience has little to do with the overall dynamics of Earth's atmosphere.
December 14, 2014 - Two weeks of meetings in Lima, Peru have ended with 190 countries coming to agreement to address climate change on a nation-by-nation basis. Called Intended Nationally Determined Contributions (INDCs) they will form the foundation for climate action from 2020 onward.
December 13, 2014 - Venture Beat in its latest issue of VB News has published 8 statistics for 2014 that show just how much is changing in America when it comes to energy production.