Millennials: Utah's Dynamic Force
Utah holds a title of significance: we're the state with the highest millennial population in the country, mainly concentrated along the Wasatch Front. If demographics determine destiny, this represents an exceptional force of change and a reservoir of momentum. But here's the question: Are our millennials aware of their potential? Are you?
Let's delve into some notable facts:
Over 32% of millennials in Utah hold a bachelor's degree or higher, contributing to nearly 40% of our educated populace aged 25 and above.
Utah's millennial homeownership rate outpaces the nation at 51%.
Millennials form a significant portion of Utah's consumer base, their annual purchasing power markedly driving the state's economy.
These points underscore a perspective captured in The Atlantic:
“Whatever one’s views of socialism, it matters whether Millennials are doing better or worse than the generations before them—and, more important, whether they believe they are. The erosion of faith in material progress has already reshaped political values and changed the tenor of American culture, and the longer it persists, the more it will continue to do so. Rising prosperity and the optimism that follows carry benefits that extend well beyond material comfort. They make social comparisons less obsessive and, as the economic historian Benjamin M. Friedman observed in his 2006 book, The Moral Consequences of Economic Growth, create an environment in which hatreds cool, cooperation becomes easier, and human rights advance more readily.”
With the momentum of our millennials and Utah's robust free-enterprise economy, we are poised for extraordinary growth over the next decade. Our collective task is cultivating and broadcasting this optimism, propelling Utah toward its full potential.
