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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Stat of the Day: 0.2%
The New York Times’ Jim Tankersley tweets: “In order to raise enough revenue to start paying down the debt, Trump would need tariffs to be ~4% of GDP. They're currently 0.2%.”
Read Tankersley’s full breakdown of why tariffs won’t come close to eliminating the deficit or paying down the national debt here.
Number of the Day: 44%
The “short-term” health plans the Trump administration is promoting as low-cost alternatives to Obamacare aren’t bound by the Affordable Care Act’s requirement to spend a substantial majority of their premium revenues on medical care. UnitedHealth is the largest seller of short-term plans, according to Axios, which provided this interesting detail on just how profitable this type of insurance can be: “United’s short-term plans paid out 44% of their premium revenues last year for medical care. ACA plans have to pay out at least 80%.”
Number of the Day: 4,229
The Washington Post’s Fact Checkers on Wednesday updated their database of false and misleading claims made by President Trump: “As of day 558, he’s made 4,229 Trumpian claims — an increase of 978 in just two months.”
The tally, which works out to an average of almost 7.6 false or misleading claims a day, includes 432 problematics statements on trade and 336 claims on taxes. “Eighty-eight times, he has made the false assertion that he passed the biggest tax cut in U.S. history,” the Post says.
Number of the Day: $3 Billion
A new analysis by the Department of Health and Human Services finds that Medicare’s prescription drug program could have saved almost $3 billion in 2016 if pharmacies dispensed generic drugs instead of their brand-name counterparts, Axios reports. “But the savings total is inflated a bit, which HHS admits, because it doesn’t include rebates that brand-name drug makers give to [pharmacy benefit managers] and health plans — and PBMs are known to play games with generic drugs to juice their profits.”
Chart of the Day: Public Spending on Job Programs
President Trump announced on Thursday the creation of a National Council for the American Worker, charged with developing “a national strategy for training and retraining workers for high-demand industries,” his daughter Ivanka wrote in The Wall Street Journal. A report from the president’s National Council on Economic Advisers earlier this week made it clear that the U.S. currently spends less public money on job programs than many other developed countries.
