For millennials, “retirement” is synonymous with “utopia.”
Twelve percent of millennials in the United States and worldwide believe that they will never retire and work until they die, according to a survey released Tuesday by Manpower Group, a company specializing in “workforce solutions.”
The survey collected results from 19,000 employed millennials in 25 countries. The United States, at 12 percent, ranked 7th for millennials pessimistic about retirement. Japan has the highest percentage of millennials who believe they will work until they die, with 30 percent of their millennial population believing that.
The results of this survey come after the U.S. Bureau of Labor Statistics determined that 18.9 percent of Americans over the age of 65 were still working, the highest percentage in 50 years.
The survey also showed the types of jobs American millennials have and what jobs they would want to have in the future. The majority of employed American millennials have full-time jobs. Only 3 percent of them work “gig economy” jobs for companies such as Uber and Task Rabbit. However, when considering future employment, 41 percent of American millennials said they would consider self-employment and 35 percent said that they would willingly take a part-time job.
When asked what they prioritize when trying to find a job, American millennials said that job security, salary, and employment benefits are the most important factors. The growing amount of student loan debt could be shifting millennials away from risk and toward safer options for work.
The baby boomer generation currently has the highest percentage of people still working in 50 years, with 18.9 percent of Americans over the age of 65 employed.
With the problems facing millennials and the expectation that they will work until they die, expect the percentage of Americans over the age of 65 that are still working to be even higher by the time millennials age.
