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Millennials are the most ‘underemployed’ generation

January 2, 2015

A higher percentage of Millennials in the U.S. with PhDs are more underemployed than Generation Xers and Baby Boomers.

According to MarketWatch last year, 34 percent of doctorate-holding Millennials reported being underemployed as opposed to 27 percent of Generation Xers and 25 percent of boomers.

The data, which described underemployment as “not using their education and training in their current job and/or are working part-time, but are still seeking full-time work,” was collected and reported by Millennial Branding and PayScale.

Millennials are the most educated generation — of those aged 25 to 34, 63 percent have at least some college education, according to a report released this week by U.S. Senator Amy Klobuchar.

Of them, 17 percent are underemployed, according to the report.

More and more Millennials are living with their parents, now 14 percent from 11 percent before the recession, and are holding off on buying homes and marriage, the report said.

“The success of our younger generations is critical to our country’s future,” Klobuchar said. “By working together on common-sense policies — from making college more affordable to making sure students have the skills they need to get good jobs and compete in the global economy — we can make sure Millennials help drive our nation’s economic growth for decades to come.”