A new study shows millennials work less and play more. An expansive investigation conducted by college researchers found that working hours for young adults have declined substantially. The study looked back at the past 15 years and directly correlates to rising video game consumption among the same age group.
Researchers from the University of Chicago and Princeton found that 15% of men between the ages of 21 and 30 were not employed full-time. This is nearly double the 8% figure determined back in 2000. In addition, actual hours worked dropped by 12%. These are staggering statistics when compared to the older generation. Researchers believe the booming gaming industry is the primary cause of the public’s lack of employment.
These millennials are not just staying out of work, they are becoming a burden on others at the same time. 67% of the young men who do not have a full-time job, live at home. This is another giant rise from the 46% recorded seventeen years ago. So, how are these young men spending their free time? By gaming, of course!
On average, this group spends more than 500 hours per year on their computers. 60% of that time is devoted specifically to gaming. The importance placed on video games could explain why many millennials make less than their age group made in the 1970’s. Right now, 41% of that bracket earns less than $30,000 per year compared to 25% found in 1975. Some experts believe blue collar jobs offered to high school graduates are responsible for these discrepancies, others simply maintain gaming is the biggest culprit.
On the bright side, the overall unemployment rate has dropped to a respectable 4.3%. And one industry that is currently booming is eSports. The industry expects to rake in more than $700 million, before becoming a billion-dollar market very soon. So maybe millennials have found a loop-hole in the job market. Play those video games all you want because one day you could get paid for it.