Junior chievement’ Teens re Doing Their Part For The Economy (NPS)—Muchlike the baby boomersbefore them, today’s teens —the 71 million young people known as Generation Y—are an active part of the economy. So much so that nearly 60 percent of them would rather go shopping than hiking or on an outing with the family. Labor Department statistics show that, as recently as 1998, teenagers in the United States participated in the economy by spending $141 billion a year—up 60 percent from just five years before. That number climbed to more than $160 billion in 2000, or approximately four percent of total consumer spending of $3.9 trillion. In fact, two thirds of the teens surveyed say they even have the power to influence their parents’ buying decisions. Muchof this financial punch is supplied by the fact that teens work. Slightly more than half—52 percent—ofstudents say they hold a job during the schoolyear. These are just some of the key findings of the Junior chievement Interprise Poll, an ongoing survey that examines the opinions of merican youth on a range of topics. The survey results also indicated that when it comes to shopping, teens seem to prefer the hands-on approach. While these young people may have been weaned on computers and the Internet, nearly every teen sur- veyed said they preferred shopping in a store to shopping online, Survey results show that when it comes to paying for purchases, teens prefer to use cash. particularly during the holidays. The same holds true when it comes time to pay for their shopping. Poll data reveal that only one in ten teenagers holds a credit card and the vast majority prefer cash to a credit card when they get to the cash register. Junior chievement, the sponsor of the survey, is the world’s largest and fastest-growing organization dedicated to educating young people about the worlds of business, economics and free enterprise. Today J reaches more than four million students through 156 offices nationwide and nearly two million students in 112 countries worldwide. For more information on J and on the opinions teens express in its ongoing series of surveys on students’ views, visit www.ja.org; call 1-800 THE NEW J (1-800843-6395); or write J National Headquarters, One Education Way, Colorado Springs, CO 80906. You can also contact the nearest Junior chievementoffice.
