×
Latest

Unemployee of the Week

October 16th, 2012

The unemployment rate among people ages 20 to 24 is 13.5%. This number is significantly higher than the approximate 7.8% nationwide. The underemployment rate is theorized to be even higher, but an actual number is hard to pin. One estimate is that 53% of recent college graduates are unemployed or underemployed. In addition, recent graduates have, on average, $25,000 in student loan debt. To marketers, these numbers are discouraging at best.

Life decisions are being postponed as Gen Y struggles with balancing the search for a well-paying career-minded job while working a lower paying, possibly part-time, lower-skill job to pay some bills. It’s confusing for everyone. For example, car sales are lower and stock purchases seem risky among Gen Y.

Despite all this, Gen Y is the generation to get interested in your brand now. Even if the purchasing power is not necessarily at full capacity today, it will be in the future. We already know Gen Y is very digitally savvy and seeks experiences they can share with others. How can your brand help Gen Y do these things at a low cost today? Building the affinity today will help them think of you tomorrow when their economic situation is more promising.

Comment