TIME motherhood

Millennials More Supportive of Working Moms than Previous Generations

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Jasper Cole—Getty Images/Blend Images RM Mother and daughter walking on city street

Much more likely to say that moms who work have just as good relationships with their kids

Working moms are getting more love than ever. Millennials are much more supportive of working mothers than young people in the 1970s and 1990s, and there’s a broader consensus that working moms can have a great relationship with their kids, according to a new study shared exclusively with TIME.

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Researchers at University of California, San Diego and San Diego State University attribute the increased acceptance to a shifting social and economic realities over the last 30 years, in which there are more single moms and few can afford not to work. The study, published Monday in the Psychology of Women Quarterly, analyzed the results of two national representative studies of nearly 600,000 respondents. They found that in 2010, only 22% of 12th-graders thought young children suffered if their mother worked, down from 34% in the 1990s and 59% in the 1970s. Adults also showed an increased tolerance for working mothers, with 35% believing that a child was worse off if his or her mother went to work in 2012, compared with 68% in the 1970s.

The researchers also found that more people believe working moms can have just as good relationships with their kids as moms who stay at home. In 1977, less than half of adults agreed that “a working mother can establish just as warm and secure a relationship with her children as a mother who does not work.” In 2012, 72% agreed with that statement.

“When you have more working mothers, you have to have more acceptance of them,” says Jean Twenge, author of Generation Me and a main researcher on the study. “When people look around and see ‘this is what people do now,’ you have to have more acceptance.”

But in some areas, there appeared to be a bit of a backtracking. In the 1990s, 27% agreed that it was best for the man to work and the woman to stay home, while 32% agreed with that idea in 2010-2013. In the 1990s, 14% thought the husband should make important decisions in the family, but 17% thought so in 2010. Twenge says that probably doesn’t indicate a spike in sexism, but instead might signify an increased perception that marriage is only for a certain kind of person. “It’s possible that this generation sees marriage as something that people with traditional gender roles do,” she says. “They think it’s for more traditional people.”

Twenge says the increased acceptance of working moms isn’t just because millennials have been around more women who work– it’s also part of the millennial tendency towards individualism. “One aspect of individualism is to treat people equally,” she says. “When you treat people as individuals, you’re not going to distinguish between a working mother and a working father.”

 

TIME Demography

U.S. Steps Closer to a Future Where Minorities Are the Majority

Census finds the country's minority population has risen to 37.9%

Minority births in the U.S. are far outpacing deaths as the white population remains all but stagnant, the U.S. Census Bureau reported Thursday, driving the country closer to the point at which minorities outnumber whites.

The country’s minority population increased from 32.9% of U.S. residents in 2004 to 37.9% in 2014, according to the Census, and four states — Hawaii, California, New Mexico and Texas — along with Washington, D.C., are now majority-minority. Nevada, which has 48.5% minority population, is likely next.

Non-Hispanic deaths outpaced births in 2014 for a third year in a row, something University of New Hampshire demographer Ken Johnson says has never happened before in the U.S.

“We expected to see non-Hispanic white natural decrease in the future, but it wasn’t expected to start for another decade or so,” Johnson says, adding that the recession and low fertility rates have contributed to the dip. “The white population is considerably older than any other part of the population. This means it has higher mortality. Fewer women are in their prime child-bearing years.”

The slowdown in white population increases is coupled with minority births that are outpacing deaths by three to one. An estimated 95% of the country’s population gain – a 2,360,000 increase – came from minorities last year, while whites made up almost 80% of deaths. However, the non-Hispanic white population did see a bump thanks to 155,000 immigrants, mostly from Europe. The population for whites grew by just 94,000.

“Ironically, non-Hispanic whites are now more dependent on immigration for population increase than any other group,” Johnson says.

Demographers predict that the U.S. will be majority-minority for the first time by the mid-2040s. Millennials, meanwhile, who number 83.1 million, have now surpassed Baby Boomers at 75.4 million and are the most diverse generation in history. But Census numbers show that the generation after them will be the first to be majority-minority. More than half of all Americans aged five years or younger are non-white.

MONEY home ownership

Homeownership Hits Another Record Low

150624_REA_CantAffordHome
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Still can't afford a home? You've got company

For millions of young Americans the dream of ownership may be farther away than ever.

A decade after the housing bubble collapsed, America’s home ownership rate is still dropping, according to a new survey by Harvard University’s Joint Center for Housing Studies. Just 63.7% of American households owned their own homes in the first quarter, researchers found. That ratio is the result of 10 consecutive years of declines since nearly 70% of Americans called themselves homeowners in 2004.

What gives? Despite a bull market and improving jobs picture, many of America’s would-be home buyers—Gen Xers in their 30s and 40s and twenty-something millennials—are still trying to get out from under the financial burdens imposed by the recession.

Most Gen Xers were just buying their first homes or getting ready to trade up when housing prices peaked in 2006. As a result, they had the smallest financial cushion when the recession hit. Unable to make mortgage payments, many were forced to rent again. Today homeownership rates for this age group has fallen to a level “not seen since the 1960s,” the study found.

While Millennials didn’t fall into that trap, they’ve faced their own hurdles. The influx of older renters has pushed up what landlords can charge, making it harder for would-be first time home buyers to scrape together money for a down payment. Over the past decade, the percentage of young renters age 25 to 34 facing a “cost burden”—meaning they spend more than 30% of their income on housing—has jumped to 46% from 40%.

What can improve the situation? On a policy level the researchers call for loosening lending standards, such as offering loans to borrowers with smaller down payments or lower credit scores. Of course, given that was a big part of what got us into the housing mess in the first place, that seems like a ticklish proposition.

A better bet may be that the economy will bail us out, with a slowly improving employment situation boosting incomes. One thing that hasn’t changed: Young Americans still want to own homes. Among renters in their 20s and 30s, more than 90% hope to buy a home eventually, according to a Fannie Mae survey cited by the authors.

 

 

 

 

 

MONEY Workplace

The Best Places for Millennials to Work

For FORTUNE's 100 Best Workplaces for Millennials in 2015, go to California. Or Texas.

As you might imagine, with tech winning for millennial workers, California is the place to be. FORTUNE has released its list of 100 Best Workplaces for Millennials in 2015, and 20 of the top 100 are in technology, like Google, Twitter and Yelp. Some are smaller companies though, like #3 AlliedWallet.com, based in Los Angeles. Nineteen of the top 100 are in California, 17 are in Texas, while only 7 are in New York. Financial services and insurance is the second-best industry for millennials with companies like Edward Jones and Pinnacle Financial Partners.

Read next: The Best Youngest Places to Live

TIME

This Company Is the Best Place to Work For Millennials

Courtesy: Power Home Remodeling Group Corey Schiller (left) and Asher Raphael, co-CEOs of Power.

Believe it or not, it's a home remodeling company

If you’re under 35 and looking for a job, you might want to check out this new Fortune ranking of the Best Workplaces for Millennials.

The list, in partnership with researcher Great Place to Work, examines the 100 companies that earned the highest marks in a survey of employees under the age of 35. Many of the companies that earned a spot are the ones you’d expect: tech giants like Google, Salesforce, and SAS; smaller, hot tech companies like Yelp and Squarespace; and hotel chains like Kimpton and Hyatt. But the overall No. 1 might surprise you: Power Home Remodeling Group.

The small contractor started with three small regional offices on the east coast—then two ambitious millennials who joined the company right out of college encouraged expansion. They consolidated the three offices into one headquarters in 2007, then began rapidly opening new offices across the country.

Now those two men, Asher Raphael and Corey Schiller, are the CEOs of the company. And they’ve turned it into a haven for young go-getters that appreciate a performance-driven culture, team spirit and mentoring. The construction business may not be the most sexy industry, but Raphael and Schiller have made it their mission to get top young talent on board.

Read Fortune‘s profile of the company for more.

TIME Advertising

4 Times Brands Shamelessly Pandered to Millennials

How do you do, fellow kids?

General Motors on Monday issued a press release entirely in emoji. Will this get the kids to buy the 2016 Chevy Cruze? Who knows. But GM is hardly the first company to try to exploit Internet culture for its own branding gains among Millennials.

Here’s a few other times big companies have tried to get down with the kids, with varying degrees of success:

1. Volkswagen rides the “i” train

In 2012, German carmaker Volkswagen showed off the “iBeetle,” a version of its famous Beetle designed to work especially well with smartphones. Not only that, the car came with an app that sent “postcards” and kept track of “milestones,” like driving was playing Xbox and reaching 10,000 miles was the same as killing 10,000 bad guys in Call of Duty.

2. 7-11 wants hipsters to drink Slurpees

If you’ve ever been wandering the streets of Williamsburg looking for the best organic mustache wax, 7-11 thinks you’d like a Slurpee. Last year the convenience store chain put out plastic mason jars and straws with plastic mustaches. So put on some Mumford and Sons and get ready for a killer brain freeze.

3. Clorox wanted its own emoji

After Apple announced more racially diverse emoji earlier this year, Clorox responded by asking “Where’s the bleach?” The Internet thought this was a little weird, and regardless of intent, this was a dud.

4. The GOP courts hipsters, too

Ok, so this isn’t technically a company, but the Republican Party also tried to win over millennials, making commercials in which a hipster-looking 20-something explained why he’s a Republican. It was roundly mocked, most famously by John Oliver.

TIME 2016 Election

How Republicans Can Win Millennial Voters

One pollster's five-point plan

Only a third of millennials identify as Republican, while almost half identify as Democratic, according to a 2014 Pew Research survey.

For Kristen Soltis Anderson, a Republican pollster and a millennial herself, that’s bad news. She worries that Republicans will be left behind if they don’t update their message and some of their beliefs.

In her upcoming book The Selfie Vote, Anderson puts forward several ideas to win back younger voters. “The world is changing very quickly,” she said in an interview with TIME. “Republicans should not fear this change. They should embrace it.”

Here are five things the GOP should do, according to Anderson.

1. Understand millennials’ views on faith and the family

Anderson says a crucial divide between millennials and traditional Republicans is in how they view family. The conservative definition of family hinges on heterosexuality and marriage, whereas millennials tend to be comfortable with any arrangement of people taking care of a child, regardless of gender or marital status.

Anderson says understanding the millennial perspective on family will be key to developing a modern form of social conservatism. “I think if we talk about the importance of people in families taking care of each other across generations, regardless of gender, and that that is this critical cornerstone of our society, I think that’s not an off-putting message,” Anderson says. “I think when we say we want to define how family ought to look in a traditional way, that’s when we begin to lose where young people are at.”

She also says Republicans needs to account for the fact that millennials still have faith but are less formally religious, are more diverse and tend to live in more urban areas than previous generations.

2. Promote Republican ideals that will appeal to millennials

Conservatives may be disconnected from millennials on some social issues, but Anderson says many Republican ideals fit well with the problems millennials are currently facing. She says the party needs to appeal to millennials’ sense of entrepreneurship by talking about deregulation, and that discussions of pay-for-performance and being efficient with government money will also resonate with young voters.

“Republicans can look to some of our nation’s cities to find plentiful examples of big government, union power, and overregulation gone terribly awry, where young residents are looking for choices, efficiency, and technology to solve the problems they face,” Anderson writes in her book.

3. Address the student loan crisis

Rising student debt is a pressing issue for millennials. Democrats often try to more heavily subsidize loans, while Republicans often focus on plans that change the way loans are repaid. But Anderson says the key for the Republican party to help the millennials is to cut back on student loans in the first place by promoting alternative forms of higher education, such as online colleges and MOOCs (massive open online courses).

“Championing technology as a way to create greater choice, greater cost savings, and better learning in America is an obvious step Republicans can take to help young people, all the while shedding the image of being the party of the past,” Anderson writes.

4. Reach out to minority voters

Less than half the babies born between 2012 and 2013 were white non-Hispanic, according to the Census Bureau. “If Republicans are to draw their votes primarily from the pool of white voters in America, they are simply on an unsustainable path,” Anderson writes.

She says there are certain policy issues that can help Republicans with minority voters, namely criminal justice reform and immigration reform. But she says the biggest problem with Republicans outside of white voters is the perception that the party does not promote equal opportunities for all people. Anderson says there are three steps Republicans must take to alter this perception: “Showing up. Listening… [And] identifying the mixed perceptions about your agenda and your policy and identifying the ways that your ideas make perfect sense.”

“I would love to see more Republicans running for office going to events in places they’re not used to going,” she says. “Don’t just do the event at the country club and the town hall with your base supporters.”

5. Get on Snapchat

None of the previous four steps will ever reach millennial voters unless Republicans work on step five: marketing. Anderson says the party needs to get much more creative and incorporate technology and apps in how they distribute their political ads.

Talking about Snapchat and Instagram, Anderson says Republicans need to start “letting people have constant access into the personal side of your campaign, not the manicured soft focus ad type stuff, but the really authentic, real live behind the scenes type stuff.”

So which 2016 candidates does Anderson think would best appeal to millennial voters? She admits her bias as a Floridian before saying Jeb Bush and Marco Rubio. “I think through Rubio’s very explicit generational message that he’s used so far, and through Jeb Bush’s attempt to really focus on how can conservatism be used as a tool for reform, I think both of those messages have very strong potential.”

“I don’t think young people are a lost cause, especially this time around,” she says. “Not only is it possible for us to make progress before 2016, I think we have to make progress before 2016. I think if another presidential election goes by where we are losing young voters by 20+ points, where we have failed to build up a base of support amongst this younger generation, I think we are one election then further cementing this really troublesome fate for the GOP.”

Read next: I Feel Ashamed to Tell Others That I Am Republican

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MONEY

Something Very Significant Just Happened to 401(k) Plans

sea of golden eggs, many emptied
Alamy

We've reached a tipping point

For decades, legions of American workers dutifully poured money into their 401(k) retirement plans. Overall contributions to these plans easily outnumbered withdrawals from the accounts of retirees ready to start using the money saved up to enjoy their golden years.

Now, however, data cited by the Wall Street Journal indicates that withdrawals from 401(k) plans are exceeding contributions. We’ve reached a tipping point largely due to the combination of retiring baby boomers and younger workers who are incapable or less interested in saving.

“Millennials haven’t moved into a higher savings rate yet,” Douglas Fisher, the head of policy development on workplace retirement for Fidelity Investment, which manages millions of 401(k) plans. “We need to start getting them to the right level.”

The most immediate implications of withdrawals exceeding contributions will be felt by the retirement industry—the companies that manage all of those 401(k)s and collect fees from them. As for the average retiree, or the average worker who one day hopes to retire, it’s unclear what effects, if any, this turn of events will have. In one likely scenario, some money-management firms are expected to lower their fees in order to increase market share in the increasingly competitive retirement plan space.

Read next: The Risky Money Assumption Millennials Should Stop Making Now

MONEY

Why NASCAR Races Now Feature DJs, Foam Parties & Go Karts

Carl Edwards, driver of the #19 ARRIS Toyota, and Kevin Harvick, driver of the #4 Budweiser/Jimmy John's Chevrolet, lead the field to a restart during the NASCAR Sprint Cup Series Quicken Loans 400 at Michigan International Speedway on June 14, 2015 in Brooklyn, Michigan.
Jerry Markland—Getty Images A scene from the NASCAR Sprint Cup Series Quicken Loans 400 at Michigan International Speedway on June 14, 2015 in Brooklyn, Michigan.

It's all about turning millennials into fans.

The prototypical “NASCAR dad” got a lot of attention in the late ’90s and early ’00s, when political campaigns—and often, advertising and marketing campaigns—were shaped to win over this large and important middle-class, conservative demographic. The problem, from NASCAR’s point of view, is that the once-potent population of NASCAR dads has gotten both older and smaller, and for a long time it’s looked like their offspring had no interest in becoming NASCAR kids.

Thanks to “a whole host of social changes,” most obviously including technology, how people interact, and ever-shortening attention spans, “we just have not seen the generational pass on of motorsports that we had with previous generations,” Roger Curtis, president of the Michigan International Speedway, told the Detroit Free Press recently.

The same old races and the same old sales pitches just hasn’t done the trick of winning over the interest (and money) of millennials. This shouldn’t be surprising considering that interest among young people in other “old man” sports like baseball, golf, fishing, and boxing has been plummeting.

But NASCAR’s sales and marketing forces haven’t been sitting around waiting to see the sport’s fan base quietly drive off into the sunset. Last weekend, NASCAR’s efforts to woo hipper, younger fans were on full display in Brooklyn—not the New York borough renowned for bearded hipsters, but Brooklyn, Mich., where the Michigan International Speedway (MIS) is located. Ticketholders for Sunday’s Sprint Cup NASCAR race at the MIS were automatically granted entrance to Keloorah, an on-site festival on Friday and Saturday nights featuring DJs, live music, video games, go karts, and foam and paint parties.

“The MIS team met last July and started to brainstorm the concept of using music as that common language to attract millennials,” Curtis explained to the Free Press. He said ticket sales for the June event were up 10% compared to last year, and that another Keloorah—taken from the Celtic word for “celebration”—will take place later this summer when MIS hosts a second NASCAR race the weekend of August 14-16.

Tim RobertsIAMDYNAMITE at Keloorah, Michigan International Speedway, 2015

Side attractions like Keloorah are part of a comprehensive campaign to convert millennials into fans. “Millennials are different from baby boomers,” says Eric Anderson, chair of the Kellogg School of Management’s marketing department, who coauthored a 2015 study on NASCAR’s marketing efforts. “They want social engagement and digital interaction with brands.”

After being warned of its approach into the territory of “dangerous irrelevance” in 2011, NASCAR has made significant changes to become hipper and more fan-friendly, including the expansion of cell phone service and wi-fi at race tracks that host only a couple events annually and encouraging drivers to engage with fans on social media to boost their star power. Also, while races were enough to draw out diehard olders fans, efforts have been underway to transform them into more well-rounded, fun, and exciting “events” that last an entire weekend and feature places to hang out and socialize into the wee hours of the night.

“NASCAR is competing not just for a share of customers’ auto dollars or sports dollars, but entertainment dollars,” says Anderson. The idea is that a mere race isn’t enough to bring millennials out to the track. But when there’s a bigger social occasion built around the race, the odds are much better that millennials will be intrigued.

MONEY Millennials

Do Millennials Really Want to Live in Cities?

MONEY's Millennials discuss whether urban living is really what they want for the rest of their lives.

Not necessarily. Census data shows more young people are leaving cities than are moving into them. Millennial homeownership is up from 28% to 32%, but millennials recognize it’s an expensive but life-enriching experience to live in a city. We agree it’s great to live in a city before you have a spouse and children, when you can really take advantage of a city’s culture, but those things — like a strong nightlife and good bodega — lose importance when you start having kids. Things like good neighborhoods with good schools take their place.

Read next: What Everyone Gets Wrong About Millennials and Home Buying

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