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.
KEEP UP WITH WFS NEWS & UPCOMING EVENTS
The Yearning Annex: Google Commits Millions for Robot Cult Indoctrination in Plutocratic Venture-Capitalist Dystopia
Their prose was all purple, there were VCs running everywhere, tryin' to profit from destruction, you know we didn't even care.
January 28, 2015 - The promise of electric vehicles (EVs) is very much dependent on improvements to battery technology. Today's lithium-ion batteries consist of a series of cells that contain layers of lithium separated by cobalt-oxides. Lithium salt is the anode. Lithium cobalt oxide is the cathode. Ions travel between the two to create an electric charge.
January 26, 2015 - While much of the rest of the world sees reductions in the use of coal and other fossil fuel energy sources as critical to a low carbon future, it appears West Virginia is trending in the opposite direction.
January 26, 2015 - Conventional gears require lubricants and wear out over time. What if we could devise mechanisms where the parts don't touch so that they never wear out?
January 25, 2015 - Once again the energy companies of the world have found a retreat from carbon to be too painful for their pocket books. The latest is a decision by four European utilities to opt out of a decade long carbon capture and sequestration project.
January 24, 2015 - Jet Propulsion Laboratory (JPL) in Pasadena, California has a vacuum chamber where the thin Martian atmosphere can be replicated.
January 23, 2015 - Carbon capture and sequestration, or CCS, is the engineering answer to "having our cake and eating it too!" Those who believe we c