CHART OF THE DAY: Do you trust this chart?
Steve...if you are say about 25 or 30 years of age, you probably don't.
This week's installment in CHART OF THE DAY comes courtesy of the recently released Pew Research Report titled Millennials in Adulthood: Detached from Institutions, Networked with Friends, a look at how the Millennial generation is transition into adulthood.
One of the more interesting findings is that, at least according to this report, the Millennials are much less trusting than the other, older generations. Take a look at the chart from the Pew report, then as you have come to expect, I will have a couple of comments about the data.
My thoughts on the chart:
1. There exists a pretty vocal cadre of people that think that all of these kind of generational differences research reports are silly, and that people are all individually distinct, and thus making broad conclusions and generalizations about entire generations is a wasted effort. These people are also wrong.
2. Could this lower relative level of 'trust' be a factor of the Millennial generation's observance of their parents experience with work and workplaces, which to at least some degree involved the breakdown of things like the employer-employee trust relationship, the ongoing decrease in organized labor, and the gradual phasing out of defined benefit pension programs? Do Millennials 'trust' less because their parents trusted their employers too much?
3. It could be that the lower 'trust' levels are also a reflection of Millennials own economic challenges. Facing a tough job market in the last several years, feeling the pressure of (for many), significant student loan debt levels, and seeing their friends and themselves having to take jobs outside of their fields, and often in the service industry where low wages, limited benefits, and lack of stability prevail. 'Trust' could be a function of vulnerability. The more vulnerable you are economically, the more wary you become.
Anyway, have a look at the entire Pew Research report, it offers some interesting data on how this important generation is transitioning into adulthood and what their attitudes suggest for the future of work, workplaces, and the society at large.
Happy Wednesday.
Reader Comments (3)
I agree with it.....and trust it (Gen X).
But interesting if you look at the flip side of the data, Silent generation have lost their retirements through collapses.....so they have lost trust.
Baby boomers seem to have the same trust, even though they would have lost at the same time as the silent gen. So they have almost a gambling addiction approach......."Just one more try - I am sure it will work this time"
I think the millennial will be more prepared than we all were. Or at-least I hope they are.
Thanks Stew - I think you are right on target with that observation about better preparedness.
Regarding the question of trust, I wonder how much (or if), this is skewed because of how the millenials interact socially? With such a strong emphasis on electronic socialization with limited true, one on one direct communication, there is an inherent focus on self and not other. How can you trust those with whom you have such one dimensional interaction?