Marriage rate is at lowest point in more than a century

The marriage rate is at its lowest point in more than a century, and the number of marriages across the USA fell more than 5% during the recession. But a new analysis projects that pent-up demand and the large population of marriage-eligible Millennials, ages 18-34, means more will be headed to the altar over the next two years.

Cultural changes about whether and when to marry, the fact that two-thirds of first marriages are preceded by cohabitation and the recession's financial fallout — including unemployment and underemployment — fueled the wedding decline. Projections from the private company Demographic Intelligence of Charlottesville, Va., says the signs are right for a temporary boost in weddings.

The company projects a 4% increase in the number of weddings since 2009, reaching 2.168 million this year; 2.189 million in 2014. Depending on the economic recovery, the report projects a continuing increase to 2.208 million in 2015. Although it finds marriage numbers are stagnant or declining among those with a high school education or less, younger Americans, and the less affluent, numbers are rising among women ages 25-34, the college-educated and the affluent, which is where "short-term increases in weddings will be concentrated," says this analysis. Read more >>

Gen Y most likely to hold low-paying jobs in retail

Chances are if you're a working Millennial, you're working in retail, says a study released Tuesday by Generation Y research firm Millennial Branding in conjunction with PayScale, a company that collects compensation data.

The most common jobs held by Gen Y are merchandise displayer and sales representative, which they are about five times more likely to hold vs. all workers, shows a PayScale analysis of about 500,000 profiles submitted to the company in the past year by Millennials ages 19-30.
Those jobs are also among the lowest paid.

Retail sales associate is listed as the fifth-worst-paid job, at an average of $19,300 a year, only better than cashier, barista, hotel clerk and dietary aide, the findings show. For an age group struggling with a poor job outlook and hefty student loans, many settle for retail while they look for jobs in their preferred field, says Dan Schawbel, managing partner at Millennial Branding. Read more >>

Young motorists driving far less than even 10 years ago

A new study by the U.S. Public Interest Research Group indicates Americans are driving less than they were a few years ago. That drop is largely thanks to young people. Those between the ages of 16 and 34 drove 23 percent fewer miles in 2009 than they did in 2001. While it's tempting to attribute the decline to the recession, the study suggests the decline may continue even after the economy picks up pace.

Factors like steeper fuel prices, more readily available public transportation and a shift in priorities are likely to continue to allow young drivers to cut down on their time behind the wheel.

The study cites one poll that found a full 45 percent of those between the ages of 18 and 34 have moved to replace driving with other modes of transportation. By comparison, only 32 percent of older drivers have done the same. Read more >>