GI
Generation: 1901 – 1926
Mature/Silents
Generation: 1927 – 1945
Baby
Boomer Generation: 1946 – 1964
Generation
X: 1965 – 1979
Generation
Y/Millennium: 1980 – 2000
Generation
Z: 2001 - Present
Baby
Boomers are incorrigible. At least that's one way of looking at the latest data
on America divorce rates. It turns out that Millennials are approaching
marriage differently -- so differently in fact that they often decide to stay
married. Millennials Are Causing the U.S. Divorce Rate to Plummet (Even
positive Millennial headlines are worded critically): "New data show
younger couples are approaching relationships very differently from baby
boomers, who married young, divorced, remarried and so on. Generation X and
especially millennials are being pickier about who they marry, tying the knot
at older ages when education, careers and finances are on track. The result is
a U.S. divorce rate that dropped 18 percent from 2008 to 2016."
Millennials,
also known as Generation Y or Gen Y, are the generational demographic cohort
following Generation X and preceding Generation Z. There are no precise dates
for when this cohort starts or ends; demographers and researchers typically use
the early 1980s as starting birth years and the mid-1990s to early 2000s as
ending birth years. Millennials are sometimes referred to as "echo
boomers" due to a major surge in birth rates in the 1980s and 1990s, and
because millennials are often the children of the baby boomers. Although
millennial characteristics vary by region, depending on social and economic
conditions, the generation is generally marked by an increased use and
familiarity with communications, media, and digital technologies.
Authors
William Strauss and Neil Howe believe that each generation has common
characteristics that give it a specific character with four basic generational
archetypes, repeating in a cycle. According to their hypothesis, they predicted
millennials will become more like the "civic-minded" G.I. Generation
with a strong sense of community both local and global. Strauss and Howe
ascribe seven basic traits to the millennial cohort: special, sheltered,
confident, team-oriented, conventional, pressured, and achieving.
Strauss
and Howe's research has been influential, but it also has critics. Psychologist
Jean Twenge says Strauss and Howe's assertions are overly-deterministic,
non-falsifiable, and unsupported by rigorous evidence. Twenge, the author of
the 2006 book Generation Me, considers millennials, along with younger members
of Generation X, to be part of what she calls "Generation Me". Twenge
attributes millennials with the traits of confidence and tolerance, but also
describes a sense of entitlement and narcissism, based on personality surveys
showing increased narcissism among millennials compared to preceding
generations when they were teens and in their twenties. She questions the
predictions of Strauss and Howe that this generation will turn out
civic-minded. A 2016 study by SYZYGY a digital service agency, found
millennials in the U.S. continue to exhibit elevated scores on the Narcissistic
Personality Inventory as they age, finding millennials exhibited 16% more
narcissism than older adults, with males scoring higher on average than
females. The study examined two types of narcissism: grandiose narcissism,
described as "the narcissism of extraverts, characterized by
attention-seeking behavior, power and dominance", and vulnerable
narcissism, described as "the narcissism of introverts, characterized by
an acute sense of self-entitlement and defensiveness.
Baby
Boomers resonate primarily with loyalty, work ethic, steady career path, and
compensation when it comes to their professional lives. Generation X on the
other hand, started shifting preferences towards an improved work-life balance
with a heightened focus on individual advancement, stability, and job
satisfaction. Meanwhile, millennials place an emphasis on producing meaningful
work, finding a creative outlet, and have a preference for immediate feedback.
In the article "Challenges of the Work of the Future," it is also
stressed that millennials working at the knowledge-based jobs very often assume
personal responsibility in order to make the most of what they do. As they are
not satisfied with remaining for a long period of time at the same job, their
career paths become more dynamic and less predictable. Findings also suggest
the introduction of social media has augmented collaborative skills and created
a preference for a team-oriented environment.
Generation
Z (our current traditional college age students) is composed of those born
between 2000 and today, which means that the oldest are about 18 and are just
entering the workforce. The media has focused a lot on millennials in recent
years, but it's time to turn some of the attention to the millennials' future
co-workers.
Gen
Z Is Motivated by Security
Gen
Z May Be More Competitive
Gen
Z Wants Independence
Gen
Z Will Multitask (More Than Millennials)
Gen
Z Is More Entrepreneurial
Gen
Z Wants to Communicate Face to Face
Gen
Z Are True Digital Natives
Gen
Z Wants To Be Catered To
What
does all this mean? Who knows, I am glad I teach them not work for them.
COLLEGE
CHRONICLES
– Harvard University (ever heard of it?) returned 10% on its endowment in
fiscal 2018. It's now up to $39.2 billion...and yep, it's still the world's
largest.
But
we should note the endowment didn't perform as well as a few of its peers.
For
the year ending June 30...
Dartmouth
College: 12.2% gain
University
of Pennsylvania: 12.9% gain
MIT:
13.5% gain
Notre
Dame: 12.2% gain
Bottom
line, courtesy of The Harvard Crimson: The returns "mark an improvement
from last year's return of 8.1 percent and a serious turn-around from the loss
of $2 billion in fiscal year 2016."
BIRTHDAYS
THIS WEEK
– Birthday wishes and thoughts this week Jackson Browne (70) Malibu, CA; Karla Hasse ….famous sister;
Karen Hasse ….famous sister; Devorah Lieberman ….famous graduate of Covina High
School; David Lee Roth (64) Scottsdale,
AZ; Tanya Tucker (60) Dallas, TX.
HEAT WATCH - The world
has just over a decade to get climate change under control, U.N. scientists
say: "The world stands on the brink of failure when it comes to holding
global warming to moderate levels, and nations will need to take
'unprecedented' actions to cut their carbon emissions over the next decade,
according to a landmark report by the top scientific body studying climate
change. ... To avoid racing past warming of 1.5 degrees Celsius (2.7 degrees Fahrenheit)
over preindustrial levels would require a 'rapid and far-reaching'
transformation of human civilization at a magnitude that has never happened
before, the group found."
MARKET WEEK – U.S.
markets: Yesterday's magic number? Three. The Dow rose for the first time in
three sessions. The S&P, though, dipped into the red to mark day three of
its losing streak. FYI, stocks were thinly traded (and the bond market was
closed altogether) thanks to Columbus Day.
Global
economy: In a highly anticipated report, the IMF cut its global growth
forecast, giving a nod to trade tensions.
For
the month of September, the U.S. economy added 134,000 jobs—well below
economist estimates of 185,000 and the smallest monthly gain in a year.
Still...we're
now at eight straight years of job gains, plus September's unemployment rate
fell to 3.7%. The last time unemployment was that low? December 1969.
Which
got me thinking...what else was going on back in ‘69?
More
than 400,000 people attended the Woodstock Music and Art Fair.
Boeing's
iconic 747 took off on its first ever flight.
The
Dow finished the year around 800 points (it's currently at 26,447).
General
Motors topped the Fortune 500.
Walmart
officially incorporated as Wal-Mart Stores, Inc.
Neil
Armstrong and Buzz Aldrin became the first humans to walk on the Moon.
The Week Ahead -
We
hope you got some rest over the weekend. Earnings season is back.
Tuesday:
Leif Erikson Day; Google is announcing new products; the IMF will release its
annual global growth outlook.
Wednesday:
World Mental Health Day (Fellow Faculty take note).
Thursday:
CPI; jobless claims; G20 finance ministers meet in Bali; earnings (Walgreens,
Delta Air Lines).
Friday:
Annual meetings of the IMF and World Bank; earnings (Citigroup, JPMorgan, PNC,
Wells Fargo.
OUT AND
ABOUT
– The boys from the Class of ’76 attended Homecoming weekend, taking in St.
Lawrence Football winning the Hoffman Cup over Norwich University 40-7. (Left
to right)Al Karnas, Peter Hewitt, Rick Klingman, and Marc Young pay tribute to
classmate Ron Pelligra at “Luca Rock”.
This was followed by a spiritual event at Camp Karnas in Honeoye Falls,
New York. Thank you to Huey, who is getting ready for son Joey Hewitt’s senior
year at D-III basketball power Whitman College Blues upcoming season.
SWAMI’S WEEK
TOP PICKS
–
NFL Football Pick of the Week – Thursday 10/11 8:20 PM ET, Fox: Philadelphia
Eagles (2-3) visit the Meadowlands and the New York Football Giants (1-4).
Giants lose this one it is time to start the buses, they do Eagles 24- 21. (Season to date 2-3)
College Football Pick of the Week – Saturday 10/13,
3:30 PM ET, ESPN: #2 Georgia Bulldogs (6-0) at #13 LSU Tigers (5-1). LSU Tigers
in an upset 40 – 35. (Season
to date 3-2)
D-III Football Pick of the Week – Saturday 10/13, 3:00 PM ET, HGTV: #3 St.
Thomas (5-0) vs; #9 St. John’s (5-0). The Tommies face The Johnnies in a key
MIAC match-up. The Johnnies in an upset 32
– 22. (Season
to date 4-2)
SCIAC Game of the Week (women’s volleyball) – Saturday 10/13, 4:00 PM
PT: University of La Verne Leopards (13-7, 5-3) visit #9 Claremont-Mudd-Scripps
Republicans (16-2, 7-0). Here we go the rivalry continues in Hedge Fund Arena,
Republicans are too strong in Hedge Fund Land, 3 – 1. (Season
to date 3-3)
NHL Game of the Week – Saturday 10/13; Toronto Maple Leafs (2-1)
at Washington Capitals (1-0-1), Leafs are for real and so are the Capitals, end
of a tough travel week for the Leafs, Caps win 5 – 2.
Season to Date (45 - 31)
Next Blog: October 15 – Jack Ass of the Month and fall
recipes.
Until
next time, Adios
Claremont,
California
October
9, 2018
#IX-12-380
CARTOON OF
THE WEEK – The New
Yorker
RINK RATS
POLL –
Favorite Hotel on the Las Vegas Strip?
_____ Mirage
_____ Wynn
_____ MGM Grand
_____ Bellagio
_____ Caesars
_____ Other
QUOTE OF THE
MONTH
– “A little bit of this town (Las Vegas)
goes a very long way.” – Hunter S. Thompson
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