Monday, October 23, 2017

Millennials are being 'left behind,' and it poses a huge risk to the US economy - so says UBS

What consumer groups worry the investment analysts at UBS about the US economy? Answer, low income households and those pesky millennials.

This sums up the bank's worries as does the chart:

"Longer term, the two-tier recovery in consumer finances suggests key segments of the US population (lower income, millennial households) are more financially vulnerable than aggregate consumer credit metrics imply. In turn, these groups will be more sensitive to fluctuations in labor market conditions and interest rates ceteris paribus."

You can read the full article in Business Insider.  Next time you marketers make a pitch for the millennial consumer you had better hope you boss hasn't read this blog post.

The following video was embedded in the article and is worth watching. There is a lot of the usual motherhood statements but some good stuff about the opportunities of the ageing business. Dick Stroud

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