Consumer Comeback Blog

Millennial Women Feel Sting of Unemployment, Vote Accordingly

The national unemployment rate, currently sitting at 7.8%, is showing signs of improvement, but subsets of the workforce have been hit harder than others. Women ages 18-29 are among the groups of American workers struggling to find employment. In September, young women experienced a significantly higher rate of unemployment at 11.9%.

A recent survey by Generation Opportunity focuses on the voting preferences of the Millennial generation. The poll revealed that 37% of female survey respondents believe politicians are in touch with best interest of Millennials, but 78% plan to vote in the election. With unemployment topping the list of concerns, the majority of young women surveyed reported that a want to see a reduction in federal spending rather than increase in taxes would help businesses hire more workers.

“The message to Washington and to candidates from young women is clear – get out of the way – lower taxes and lower federal spending to get this economy moving again,” Amber S. Roseboom, executive vice president of Generation Opportunity and a former deputy chief of staff of the United States Office of Personnel Management, said in a press release. “To stubbornly press forward with an agenda that increases taxes and federal spending at the expense of jobs and opportunity is unfair and callous. For those who would arrogantly suggest that women either don’t care about a candidate’s record in office or will simply vote on a narrow band of issues, they had better wake up – women are paying attention, and they plan to vote this November.”

The survey revealed the following opinions of women ages 18-29:

  • 62% believe the availability of more quality, full-time jobs upon graduation is more important than lower student loan interest rates.
  • 75% believe that the lack of job opportunities is shrinking the American middle class.
  • 77% would decrease federal spending if given the opportunity to set America’s fiscal priorities.
  • 68% think reducing business taxes would help companies hire more workers.
  • 69% think reducing taxes would help the U.S. economy would grow faster.
  • 66% prefer reducing federal spending over raising taxes on individuals to balance the federal budget.

To offset the effects of unemployment and other the economic factors, 90% of women 18-29 reported changing some aspect of their daily lives, and 84% decided to delay major life events including:

  • 65% reduced entertainment budget
  • 56% reduced grocery/food budget
  • 48% cut back on gifts for friends and family
  • 43% skipped a vacation
  • 40% have driven less/relied more on public transit
  • 39% have taken active steps to reduce home energy costs
  • 32% tried to find an additional job
  • 27% changed living situation (moved in with family, taken extra roommates, downgraded apartment or home
  • 27% sold personal items or property (cars, electronic appliances, or other possessions
  • 18% skipped a wedding, family reunion, or other significant social event
  • 40% delayed buying their own place
  • 35% delayed going back to school/getting more education or training
  • 31% delayed paying off student loans or other debt
  • 29% delayed changed jobs/cities
  • 28% delayed starting a family
  • 25% delayed saving for retirement
  • 22% delayed get married