President Obama’s Agenda for Creating Economic Opportunity for Millennials

*         Today, the President’s Council of Economic Advisers released a new report<http://www.whitehouse.gov/sites/default/files/docs/millennials_report.pdf> that details key characteristics of the Millennial Generation – the largest, most diverse, and most educated generation in our history – and takes an early look at the generation’s adult economic lives and the impact that this Administration’s policies have had on them.

*        Many Millennials came of age during the worst economic crisis since the Great Depression, but thanks to the hard work of the American people and the policies the President has pursued, we’ve laid a new economic foundation<http://www.whitehouse.gov/the-press-office/2014/10/02/remarks-president-economy-northwestern-university> and the United States has come back faster and farther than almost any other nation on Earth.

*         Last week, the President laid out his vision for continuing to build on that foundation for a strong, durable economy with secure middle class jobs. We’re moving forward again and one generation in particular – Millennials – will shape our economy for decades to come.

*         That’s why the President will hold a town hall today and speak directly with Millennials in Los Angeles at Cross Campus, a collaborative workspace and business event venue that brings together a diverse community of freelancers, creative professionals, entrepreneurs, and Venture Capitalist-funded startup teams.

*         The President knows that Millennials – better equipped to overcome our challenges than any previous generation – are crucial to continuing our economic growth and creating good jobs that pay good wages, which is why he’s put in place policies to address the challenges their generation faces by:

o   Investing in our teachers and schools;

o   Making college more affordable and student loan debt more manageable;

o   Building on our technology boom;

o   Expanding access to health coverage and homeownership, and;

o   Providing access to job training and skills programs.

*         The President will continue to act with Congress and on his own where he can to build on this progress to expand opportunity for Millennials and all Americans. He’ll continue to pursue commonsense steps that we could take right now to help our economy immediately and over the long-term.

*         Today’s report explored 15 key facts about the Millennial Generation:

1. Millennials are now the largest, most diverse generation in the U.S. population
2. Millennials have been shaped by technology
3. Millennials value community, family, and creativity in their work
4. Millennials have invested in human capital more than previous generations
5. College-going Millennials are more likely to study social science and applied fields
6. As college enrollments grow, more students rely on loans to pay for post-secondary education
7. Millennials are more likely to focus exclusively on studies instead of combining school and work
8. As a result of the Affordable Care Act, Millennials are much more likely to have health insurance coverage during their young adult years
9. Millennials will contend with the effects of starting their careers during a historic downturn for years to come
10. Investments in human capital are likely to have a substantial payoff for Millennials
11. Working Millennials are staying with their early-career employers longer
12. Millennial women have more labor market equality than previous generations
13. Millennials tend to get married later than previous generations
14. Millennials are less likely to be homeowners than young adults in previous generations
15. College-educated Millennials have moved into urban areas faster than their less educated peers