The annual report also notes that 67% of Americans surveyed are ‘tapped out’ with productivity and growth suggesting that the focus is shifting back to the baby boomer generation. Boomers are reportedly controlling 70% of the disposable income in the US and now see themselves as ‘middle-aged millennials’ as they invest more time in social media, the gig economy and e-commerce.
The trends report also suggests that the US now has two definitions of the American dream. For many (e.g. first generation immigrants), the traditional one remains, with such aspirations as going to college and owning a home. For others, success is about time for self-development and the pursuit of personal passions. Further, as people seek out a different type of fulfillment, companies like Amazon and Netflix are testing out 30-hour work weeks and flexible parental leave to help.
Source: Baby boomers embrace the gig economy while millennials seek balance, report suggests | The Drum