Young British Millenials Not Bothered About Economic Crisis

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By Shane Croucher | November 20, 2012 1:47 AM EST

Job security is one of the biggest concerns of the Millennial generation (Reuters)

Only 12 percent of nine to 14-year-olds in Britain think the global economic crisis is important, according to a new study of the so-called "Millennial" generation, with just over a fifth not caring if it ever improves.

However, the older half of the country's Millennial group, aged from 15 to 30, rank the global economic crisis as the most significant event affecting their lives and are pessimistic about the future because of it, reported entertainment business Viacom in its study The Next Normal: An Unprecedented Look at Millennials Worldwide.

Young people in Britain face a difficult future as they bear the brunt of government austerity to reduce the deficit in public finances, after a boom in fiscal spending before the financial crisis unsettled the global economy.

Official data shows that there are almost a million 16-to-24 year-olds not in education, employment or training in the UK.

This has fed into the fears of the Millennials, with 51 percent of the 900 UK respondents to the Viacom survey saying they spend time worrying about finding a job.

Viacom's study surveyed Millennials across the planet, with job security outweighing world hunger as their number one concern, at 49 percent saying they fear the employment situation will only get worse the world over.

Pessimism is also rife over earnings, with just 25 percent saying they think they will earn more than their parents - down from 38 percent before the financial crisis.

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