April 20, 2018
This week's post looks at the role of millennials in the economy and workforce development.
Millennials were born between 1980 and 2000. They are entering their prime employment years just as baby boomers are starting to retire out of the workforce. We're hearing more and more reports of businesses having challenges in recruiting the workers with the skills they need. Millennials, as this large force coming into the workforce, and very much in demand, have the potential to reshape our economy.
5 resources: millennials and economic development
Economic Impact of Recreational Marijuana. This report from Deloitte estimates that the sales of legalized marijuana add up to as much as $5 billion to $8 billion per year. Adding the economic impact including ancillaries like growers, infused products, testing labs & security and the industry has the potential to be worth up to $22.6 B per year. Tourism, taxes, licenses and paraphernalia sales would be above those estimates. https://www2.deloitte.com/ca/en/pages/deloitte-analytics/articles/recreational-marijuana-market.html
Intro to Millennials This post and infographic from Goldman Sachs provides a detailed profile of millennials as they move into their prime employment and spending years. Millennials are poised to reshape the economy; their unique experiences will change the ways we do business.
Why millennials Matter - This post from Inc. lays out the ways that millennials will contribute to the workforce and how they will profoundly change the way we work.
Where educated Millennials are Moving - This post from Forbes studies the migration patterns of millennials. It documents how Rust Belt cities that are losing population are transforming their demographics through the attraction of educated millenials by working with post-secondary institutions. https://www.forbes.com/sites/petesaunders1/2017/01/12/where-educated-millennials-are-moving/#4501b8b0d3cc
Lessons from 4 Cities that are Attracting Millennials - This post looks at the US coastal cities of Providence, Boston, Charleston and Orlando and how they are successfully attracting millennials through targeted programs and events, affordable housing, vibrant downtowns and public transit.
Housing for Millennials - Affordable housing is a key issue for millennial. This article from Flare magazine looks at the experiences of 10 millennial women in finding affordable housing and how those experiences have how impacted where they live.