The Future Is Bright For Generation X
Suffering produces perseverance, perseverance character; and character, hope. And, hope does not disappoint. –From Paul’s Letter to the Romans
We Will Have More Opportunities.
According to the U.S. Bureau of Labor and Statistics, Baby Boomers will not have as an impressive effect on the labor force next year as they have had in the past. Their share of the labor force will decrease from 49 percent in 2000 to 38 percent in 2010. This downward trend will continue. As they retire, there will be more opportunities for Generation X to move into leadership, especially in the government sector. Demand will outpace supply.
We Will Have Cheaper Housing.
I understand why this is a negative for some homeowners who owe more on their houses than they are worth, but it’s a positive for many Gen Xers who have not yet purchased a home. The housing boom is over, at least for the moment. In an article by Chadwick Matlin published on the blog, The Big Money, this doesn’t mean the sky is falling. Fourteen million houses are vacant in the United States. The system of supply and demand, again, comes into play. If you have more supply than demand can meet, prices are driven down. Buying in a down market will prove beneficial as Generation X ages and holds onto property longer.
We Will Have Smaller, Not Lower, Expectations.
In 2005, Seth Godin first wrote about small being the new big. More than any other generation, Generation X has smaller expectations. As Godin wrote, we want small churches where the pastor can visit us in the hospital. We want smaller restaurants where the owner greets us by name.
|Little People Camper and Canoe|
Gen Xers love of all things small has helped boost many a micro-market, but Gen X has also carried it to a new mental attitude. According to an article written by Kristin Gerencher and published in the Wall Street Journal in 2006, Generation X is the trade-off generation that has rejected the live large mindset. Gen X carries 70 percent more debt that Baby Boomers did at the same point in their lives. This burden has tamed the generation’s expectations. Many Xers are seeking homes with smaller footprints with space designed for family usage vs. hideaways for individual usage. Smaller homes mean fewer resources devoted to energy and household repairs, and smaller homes mean smaller money pits.
We Will Be Less Lonely.
In his book, The Outliers, one of the great Generation X thinkers, Malcolm Gladwell, establishes the premise for his book through the story of Roseto, Pennsylvania. He cites research done by a professor at the University of Oklahoma in the 1950s. The researcher discovered that the Italian immigrants of Roseto had dramatically lower instances of heart disease based on the fact they were surrounded by a rich community. This community didn’t lord success over its members or revel in members’ failures. Generations live under one roof and they helped alleviate the stress associated with child rearing, finances, etc.
Generation X stands to gain from the high premiums now being placed on community.
In the blog, Punch in the Face, writer Chris Curtin writes a humorous post about being 35 and Friendless.“If you’re 35, you’re certainly not too old to meet new friends. But definitely in a “friend valley” age-wise. I’ve got none of the friends I had at 25…and I won’t have my 50 year-old friends for several years…” He goes on to say that if you’re a married man the only “friends” you have are the husbands of your wife’s friends. And, if you have kids, you don’t have friends because you have no time.But, 50 is out there. It’s waiting for all of us. It’s true, Generation X went from a lonely childhood and youth to possibly an even lonelier adulthood, but Gen X’s overwhelming longing for community, evidenced by their domination on Twitter, Facebook and in blogging, is helping Xers revive old relationships and grow new ones.
Last week, the Gen X blogger, Ian, wrote about journeying back to the town where he went to high school for the funeral of a friend, 42. The post, as he calls it, is tender. And, last week, a blogger and his wife who live in Spokane traveled to Oklahoma to meet with three other Oklahoma bloggers they’d met over the past year. Five Gen Xers and one Baby Boomer gathered together at Red Earth, hiked through the Chickasaw National Recreation Area and sat on the porch and talked until midnight.
Stories like this have played out thousands of times over the last 10 years. Generation X desires community and in the future, all of our lives will be less lonely as we find lasting connections with strangers and old friends who have walked the earth and come of age with us. A small generation who moved faraway from home, finding one another has not been easy. Social networking has helped.
Generation X has been called the most neglected children to ever walk the planet. I don’t know if that is true, but I certainly think as parents, we’ve been uncertain of healthy boundaries for our children, in many cases becoming enmeshed. Many of us have overcompensated morphing into some kind of crazy SuperParent. As Lenore Skenazy, writer of the blog, Free Range Kids points out, kids can no longer do cartwheels without supervision and a snack.Still, kids are safer now than ever before, and I can’t help but think Generation X has at least something to do with it. We’ve demanded more policies and policing. We’ve supported child protections laws; many the initial work of Baby Boomers, I might add. (Think Amber Alert, Megan’s Law and thePollyKlaas Foundation.)Crime is lower than it was when Generation Xers were children. According to one study by the U.S. Department of Justice, child homicide is lower now than it was in the 70s. Thanks to research, we know now that the person most likely to hurt our children is not a stranger, but sadly, a family member or someone we know. We’re on the lookout, constantly. Because of it, our kids are safer.We Will Inherit Someone Else’s Wealth
In an article written by Eugenia Levenson and published in a 2006 issue of Fortune Magazine, $45 trillion will be inherited over the next 55 years. Baby Boomers will inherit one-third, and the rest will go to Generation X and Generation Y. Of course, not everyone will get an inhertiance, but some will.
According to an article written by Alex Steffen, Peak Population and Generation X, the historic calling of Generation X is to save the planet. Human population peaked in the late 1960s, an event that will eventually be considered the most significant demographic in the history of humankind. Another peak awaits us. Prior to this second peak, Generation X will reach its professional prime. Thus, Generation X has an opportunity to make key leadership decisions in regard to the planet. These include creating the model for a zero-carbon, zero-waste civilization; empowering women through reproduction education; and sustainably raising the prospects for people, especially women, in developing countries.We Will Have More Time. (And, the air will be cleaner.)There is joke that appeared on Twitter. It went something like this:
BOOMER: “Why won’t these kids work 60 hours like me?”
GEN Y: “Sorry it takes you so long to get your work done.”
As Generation X gains more decision-making power in the workplace, they are going to be highly focused on finding more efficient ways to get work done. Generation X loves telecommuting. Not only will they be more likely to provide such options to their employees, they will create these opportunities for themselves.
According to a study conducted by Paulette Gerkovich, Ph.D., and published on the The Sloan Family Work and Family Research Network, Generation X places higher priority on family and personal life than previous generations. Generation X demands work flexibility and are not willing to sacrifice their personal and family-related goals for career.
Contrary to what Baby Boomers often think, Gen X does NOT want to work fewer hours or work less, they want more CONTROL over when and where they work. One of the biggest revelations that await us all is how much productivity will increase and how much better the economy will be when workers have more control over when and where they work.
Part of the time-gain will come from the reduced number of commutes. Given how big an issue non-compliance with air quality standards is for so many major cities/regions, I can’t believe more policies or incentives have not been implemented that require or encourage employers to designate a percentage (possibly rotating) of their workforce as work-at-home. It’s inefficient on so many levels how many workers commute unnecessarily every day.
Once in charge, Generation X’s commitment to environmental restoration and pollution prevention could be a windfall for telecommuting. We could see a decrease in traffic during peak drive times, which in turn could lead to a reduction in harmful air emissions. The number of traffic accidents could be reduced, which would lessen demands on various public resources and services.
And all of this speaks nothing of the time that will be gained via advances in medicine. Diseases will be eradicated and our life expectancies will increase.