New Jersey's Millennial Mass Exodus

Date: April 04, 2017

Millennials now make up the nation’s largest living generation, surpassing Baby Boomers, but in New Jersey, the state is losing this group faster than any other demographic.

This is not only a concern for business owners, but for the Garden State at large, which has had a slow recovery from the Great Recession. To address the issue of millennials and the state workforce overall, the New Jersey Business and Industry Association held a conference last month.

Two of the conference’s top takeaways centered around affordability, both in communities in general and when it comes to the burden of property taxes, which recently hit a new high in New Jersey. For a demographic with astronomical amounts of college debt, joining the property ladder in a state with such staggeringly high property taxes is a losing proposition.

Another key issue discussed at the conference, which brought together both business and education leaders, was the importance of connecting education programs to private sector job training needs, such as the growing demand for home health aide training.

“New Jersey and its businesses cannot afford to ignore them or to stand idly by as millennials interests and desires transform the state’s economy,” an NJBiz.com editorial noted.

Related Content: Small Business News | Economy | New Jersey

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