Yet Another Way Millennials are Different

A raft of demographic and employment statistics coming from various sources (see Bloomberg summary article here) reveals interesting and ominous shifts in what have been long-term trends in the U.S. One shift is especially relevant for those in the education  sector: a historic decline in geographical mobility for employment.The downturn in geographic mobility--translated as a decreasing willingness to move to take a new job even if unemployed--suggests a lack of confidence that conditions might be better someplace else. According to Bloomberg,

"Economists and demographers say a combination of relatively low-paying opportunities, the burden of student loans and an aversion to taking risks explains the reluctance to relocate."

One wonders how contagious this pessimism might become and what effect, if any, it will have on graduating high school students' high education plans.A quote from Andrea Hershatter of Emory University is illuminating:

"Part of the decline is a lag -- millennials do everything related to independence a bit later than previous generations -- and part may be a genuine trend that implies a less physically mobile generation,” she said. “I do believe that they are more inclined than previously more nomadic generations to put down roots and to gravitate towards the comfort of the homes and institutions they never really rebelled against."

  And this, among other things, further sets the millennials apart from previous generational cohorts.