Millennials to Employers: Show Us the Money
When it comes to company loyalty, money matters to millennials. Twenty-nine percent of millennials say that a higher salary is the biggest contributor to their loyalty, according to data released Tuesday by the Staples Advantage Workplace Index.
That compares to 20 percent of the overall workforce who place a priority on salary. The difference could be related to the fact that millennials tend to make lower wages than other workers and face higher fixed costs on things like student loans and rent.
Still, the job market is tightening, making it easier for millennials who feel they are underpaid to look elsewhere for work. The unemployment rate for millennials has fallen by nearly 40 percent since its peak in 2010.
Related: 18 Companies Americans Hate Dealing With the Most
Millennials are willing to work long hours but they want to be able to do so on their own terms. More than half of younger workers said that they work from home after the work day is over, compared to 39 percent of the all workers. Nearly half of millennials said that increased flexibility would improve their happiness.
Other important factors for millennials are office perks such as a gym or free lunches, having an eco-friendly office and a company culture that encourages breaks.
Whether or not they’re happy with their current roles, millennials are looking toward the future with ambition. Seventy percent of those surveyed said they expect to be in a management position in the next five years.
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Chart of the Day: Long Way to Go on Coronavirus Testing
The White House on Friday unveiled plans for a new effort to ramp up testing for Covid-19, which experts say is an essential part of limiting the spread of the virus. This chart from Vox gives a sense of just how far the U.S. has to go to catch up to other countries that are dealing with the pandemic, including South Korea, the leading virus screener with 3,692 tests per million people. The U.S., by comparison, has done about 23 tests per million people as of March 12.
After Spending $2 Billion, Air Force Bails Out on Planned Upgrades of B-2 Bombers
The Air Force has scrapped a planned upgrade of its B-2 stealth bomber fleet — even after spending $2 billion on the effort — because defense contractor Northrup Grumman didn’t have the necessary software expertise to complete the project on time and on budget, Bloomberg’s Anthony Capaccio reports, citing the Pentagon’s chief weapons buyer.
Ellen Lord, the undersecretary of defense for acquisition and sustainment, told reporters that the nearly $2 billion that had already been spent on the program wasn’t wasted because “we are still going to get upgraded electronic displays.”
Big Hurdle for Sanders’ Plan to Cancel Student Debt
Bernie Sanders wants to eliminate $1.6 trillion in student debt, to be paid for by a tax on financial transactions, but doing so won’t be easy, says Josh Mitchell of The Wall Street Journal.
The main problem for Sanders is that most Americans don’t support the plan, with 57% of respondents in a poll last fall saying they oppose the idea of canceling all student debt. And the politics are particularly thorny for Sanders as he prepares for a likely general election run, Mitchell says: “Among the strongest opponents are groups Democrats hope to peel away from President Trump: Rust Belt voters, independents, whites, men and voters in rural areas.”
Number of the Day: $7 Million
That’s how much Michael Bloomberg is spending per day in his pursuit of the Democratic presidential nomination, according to new monthly filings with the Federal Election Commission. “In January alone, Bloomberg dropped more than $220 million on his free-spending presidential campaign,” The Hill says. “That breaks down to about $7.1 million a day, $300,000 an hour or $5,000 per minute.”