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BizReport : Research archives : October 24, 2013

Survey: More workers moving in with parents, underemployed

This will not come as a shock: Baby Boomers are making more than either Gen Xers or Gen Y. It stands to reason as Boomers have been in the job market longer. What is interesting, in a new report out from PayScale and Millennial Branding, is that more workers from all demographics are working from home or are choosing to work for smaller companies.

by Kristina Knight

Researchers found that, for all worker demographics, male to female pay ratios were separated by about 3%, with the closest gender gaps occurring in the Gen Y demo.

"Similar to other studies, our research reinforces that the sluggish and uncertain economy has made a significant impact on the perspectives and experiences of not only Generation Y, but also Generation X and Baby Boomers," said Katie Bardaro, lead economist for PayScale. "It is also important to note the complexities that each generation possesses based upon so many economic, cultural, and sociological conditions and issues."

Some interesting findings from the report include:

• 28% of Millennials have moved back in with their parents (Gen X 11%, Boomers 5%)
• Baby Boomers are most likely to want to change their boss (9% vs. 6% of Gen Y or 7& of Gen X)
• Gen Yers are most likely to be 'unsatisfied' at work and are most likely to work at smaller companies

"The economy has delayed their careers and their personal independence and forced them to work harder than previous generations just to catch up," said Dan Schawbel, Founder of Millennial Branding and New York Times best-selling author of Promote Yourself. "They are taking on multiple jobs to pay back student loans and are being forced to create their own careers instead of relying on companies to do it for them."

The full study can be downloaded here.

Image via Shutterstock

Tags: Boomers, demographic trends, Gen X, Gen Y, Millennial Branding, Payscale, worker demographics

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