The Rise of the Millennial Workforce

by Ray Williams and Matthew Shafer

A common stereotype placed on millennials in the workforce is that they are constantly job-hopping. However, research suggests that this label may be misplaced. Data from the U.S. Department of Labor suggests that millennial workers are just as likely to stick with their employers as their older counterparts in Generation X. In January 2016, 63 percent of employed millennials had worked for their current employer at least 13 months. In February 2000, 60 percent of Gen Xers reported similar job tenure. Looking at longer tenures, 22 percent of millennial workers had been with their employer for at least five years as of 2016, almost the same as the share of Gen X workers, 21.8 percent in 2000. Richard Fry, senior researcher at Pew Research Center, said in a recent article “the job-hopping millennial characterization does not fit the broad millennial workforce.” millennial workers is on the rise because of a desire for stability in a world of uncertainty. American millennials are now more likely to stay with their current employer beyond five years than to leave within two. The atmosphere of threat and turbulence was cited as the reason most would prefer a permanent, full-time job rather than working freelance or on a flexible, short-term basis. Additional key findings include increased pessimism about the future, a positive view of business as a vehicle of positive change, and a fear of automation posing a threat to jobs and creating a sterile workplace.

Demographic Shifts

Newly released Census data shows Colorado, the District of Columbia and North Dakota have experienced the largest demographic shifts among millennial workers. Since 2010, Colorado has experienced a 14 percent increase in the millennial population, the District of Columbia a 30 percent increase and North Dakota an 18 percent increase. In the same report, Illinois, Mississippi and New Mexico round out the bottom three states, experiencing a negative net population shift within the same time period. Illinois had a negative 2.3 percent shift, Mississippi had a negative 4 percent shift and New Mexico a negative 3 percent shift. According to Pew Research Center, millennials have surpassed the baby boomer generation as the largest living population in the United States, leading some states to implement strategies to target this growing demographic. In September 2017, New Hampshire Gov. Chris Sununu implemented the Millennial Advisory Committee after seeing only a 0.2 percent increase in millennials in the workforce since 2010.

“The council will offer insights and policy recommendations to attract and retain a millennial workforce and work to address other issues that millennials face all across the Granite State. I look forward to working with the council to develop steps to continue to make sure New Hampshire works for everyone,” Sununu said in a press release. North Dakota’s leaders have also been thoughtful in developing strong workforce

COLORADO

14%

NORTH DAKOTA

18%

development strategies to engage and sustain this sector of the labor force. Jesse Bradley, communications manager at the North Dakota Department of Commerce, and Kevin Iverson, manager of Census Data at the North Dakota Department of Commerce, discussed specific strategies to capitalize on the workforce and population influx. “North Dakota is more focused on attracting businesses that attract the millennial demographic, more than targeting the millennial worker itself,” Bradley said. “We try to target four to five industries that are at the forefront of technology and more likely to attract younger workers”. According to Bradley, North Dakota is home to a growing cluster of the unmanned aerial systems, or UAS, research, business and military interests. North Dakota Gov. Doug Burgum and Lt. Gov. Brent Sanford lead the state’s efforts to expand workforce development, UAS operations, research and development, and education in North Dakota, all of which they say are contributing to their millennial population growth. D.C.

30%

Since 2010, Colorado has experienced a 14 percent increase in the millennial

population, the District of Columbia a 30 percent increase and North Dakota

an 18 percent increase.

“These powerful technological forces are fueling an underlying change in our economy,” Burgum said in his 2017 State of the State State address.

According to Iverson and Bradley, North Dakota made a $43 million investment to advance UAS research and development, while collaborating with statewide organizations to build this emerging industry. “We have committed about $16 million for infrastructure projects essential to establish an unmanned aerial systems training academy at the Grand Sky UAS business and technology park in Grand Forks,” Iverson said. North Dakota is also focused on comprehensive and socially conscience energy policies, issues that are more likely to resonate with millennials, according to the Brookings Institute research data. “We are one of the only states with a multi-resource energy policy, guided by the efforts of the EmPower North Dakota Commission,” Iverson said. “North Dakota’s future is one where many of the energy sectors have the potential to not only grow, but also develop new economies based on value-added opportunities related to energy resources.” The EmPower North Dakota Commission is a collaborative effort among leading energy industries within the state. They meet regularly to proactively develop and maximize North Dakota’s natural resources, partnering traditional energy industries with emerging renewable energy industries. State leaders in North Dakota have implemented a comprehensive package of state incentives to stimulate growth in all sectors and to create a broad-based energy strategy that maximizes all North Dakota's energy resources.

“North Dakota is a great place to be right now,” Bradley said. “We've recently been named the

Newly released Census data shows Colorado, the District of Columbia and North Dakota have experienced the largest demographic shifts among millennial workers.”

best state for entrepreneurs, the best state for young adults, and the best state to raise a family. North Dakota continues to offer a business-friendly environment by creating growth and enhancing the quality of life for our citizens.”

North Dakota’s current initiatives could explain their upward trend in economic activity, millennial demographic shifts and the lowest unemployment in the nation. With the millennial population at the forefront of state economic activity and growth, as well as the current and future workforce, states are beginning to acknowledge the need for comprehensive initiatives to target and sustain a vibrant millennial workforce.