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Young People’s Consumer Confidence Index

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Facebook costing 16-34s jobs in tough economic climate

One in ten young people have been rejected for a job because of their social media profile

We have just finished the third wave of our young people’s consumer confidence (YPCC) index, which is designed to help businesses understand what young people (16-34) think about their current and future economic and employment prospects, in both developed and growth markets.

The index covers 6000 16-34 year olds across six countries and revealed some surprising results.

Impact of social media on careers

If getting a job wasn’t hard enough in this tough economic climate the survey revealed that one in ten young people have been rejected for a job because of their social media profile.

Yet worryingly the majority (two-thirds) are not concerned that their use of social media now may harm their future career prospects and are not deterred from using it.

They are also more likely to have altered their social media profile to look good to their friends, as opposed to prospective employers.

Better education of the impact of social media is needed, to ensure young people are not making it even harder for themselves to get on the career ladder.

Consumer confidence

At the top line level consumer confidence levels amongst young people in growth markets are twice as high as the UK and US.

Young Chinese and Nigerian consumers have the overall highest confidence levels, indexing at 39, followed closely by Brazil (37) then India (37). In comparison, Britons index at just 16 and the US at 19.

Future employment
Confidence in growth markets is fuelled by optimism about their future employment prospects, with 88% firmly believing they will get a better education than their parent’s vs their counterparts in developed markets (64%). They are also more confident about earning a higher salary (89%) where as young people in developed markets are less certain (60%).

Young People’s Consumer Confidence Index

  1. Young People’s Consumer Confidence Index Growth & Developed Markets May 2013
  2. Summary Young people’s consumer confidence • Young people in growth markets are at least twice as confident, compared to those in developed markets. Although someway behind their counterparts across the world, young people in the US & UK are showing signs of increased confidence. • Confidence in growth markets is being fuelled by a positiveness about their future, they are especially confident about their future employment prospects (66 v 33). • They firmly believe they will get a better education than their parents (88%) vs their counterparts in developed markets (64%). They also believe they will earn a better salary than their parents (89%) where as young people in developed markets are less confident (60%). Social media impact • If getting a job wasn’t hard enough in this tough economic climate, one in ten young people have been rejected from a job because of their social media profile. • Yet worryingly the majority (two-thirds) are not concerned that their use of social media now, may harm their future career prospects and are not deterred from using it. • They are also more likely to have altered their social media profile to look good to their friends, as opposed to prospective employers. Better education of the impact of social media is needed, to ensure young people are not making it even harder for themselves to get on the career ladder.
  3. Generation jobless - around the world almost 300m 15 to 24s are not working or studying, which is almost a quarter of the planet’s youth! Source: Economist April 2013 Young people have long had a raw deal in the labour market. Firstly the financial crisis and its aftermath had an unusually big effect on them. Secondly, the emerging economies with the largest and fastest-growing populations of young people also have the worst-run labour markets. It is hard to be optimistic about a problem that is blighting the lives of so many, however it is perhaps time to be a bit less pessimistic. Policymakers know what they need to do to ignite growth e.g build bridges between education and work. Countries that make investments to tackle unemployment head on, have the ability to make dramatic improvements.
  4. Young People’s Consumer Confidence Index (YPCC) Why carry out an index? By collecting data from key markets we can help businesses understand what young people (16-34s) around the world think about their current and future economic prospects, and data can be trended over time. It also gives businesses looking to develop in growth markets, a good indication of the current and future health of the economy. Index Score is calculated using the mean scores of six key questions: 1. How do you expect your employment situation/prospects to change over the next 12 months? 2. How do you expect the general economic situation in this country to change over the next 12 months? 3. How are you feeling about your current employment situation/prospects? 4. In view of the economy, is now the right time to buy big purchases? 5. How are you feeling about your current personal/household financial situation? 6. Overall how are you feeling about the economy? Results are repeated every quarter, sign up to our newsletter for future releases. Interested in carrying out your own mobile research? Contact us info@ondeviceresearch.com +44(0)207 278 2267
  5. Methodology • 6000 mobile users (aged 16-34) completed a survey via the mobile Internet – sample matched to gender and regional quotas. • Additional questions were asked from a larger sample size of 17, 657 (aged 16-34) about social media. • Study covers China, India, Nigeria, Brazil & the UK and US. • Data is trended to compare the results from the Aug 2012 index study. The discrepancy between mobile and desktop Internet penetration means mobile is the only way to research a growth market
  6. Young people in growth markets are at least 2x as confident, compared to those in developed markets. However young people in the US & UK are showing signs of increased confidence. 38 39 32 37 10 16 37 39 37 39 16 19 0 10 20 30 40 50 60 70 80 90 100 Brazil China India Nigeria UK US YPCC Index Score Aug-12 May-13 Source: On Device Research YPCC Brazil, China, India, Nigeria, US,UK n = 12,000 , Age 16-34 , Aug 2012 - May 2013 Index score is calculated using the mean score of six key questions
  7. What’s driving this confidence?
  8. 19 8 73 35 57 74 0 20 40 60 80 How do you expect the general economic situation in this country to change over the next 12 months? Brazil China India Nigeria UK US Mean sore Source: On Device Research YPCC Brazil, China, India, Nigeria, US, UK n = 6000 Age 16-34 May 2013 Young people in developed markets have a very positive outlook for future economic growth in their country and this impacts their confidence scores. Young Britons are 8x less confident than growth markets (8 vs. 60) about how the general economic situation will change in the UK in next year. Get a lot betterGet a lot worse
  9. When asked about their future employment prospects, young people in growth markets are also significantly more confident (66 v 33). On a positive note young people in the UK are 7x more confident about their future employment situation than 9 months ago (4 vs. 27) but they are still some way behind their counterparts across the world. 38 (+28) 27 (+23) 78 (+10) 46 (+10) 61 (+8) 79 (+7*) 0 10 20 30 40 50 60 70 80 90 How do you expect your employment situation/prospects to change over the next 12 months? How do you expect your employment situation/prospects to change over the next 12 months? Brazil China India Nigeria UK US Mean sore May 2013 Aug 2012 Source: On Device Research YPCC Brazil, China, India, Nigeria, US, UK n = 6000 Age 16-34 May 2013*difference in mean score vs Aug 2012 Get a lot betterGet a lot worse
  10. On average 88% of young people in developing countries firmly believe they will get a higher education qualification than their parents, those in developed markets are less sure scoring 24ppts lower at 64%. 63% 89%65% 85%96%80% Do you expect to get a higher education qualification than your parents? YES Source: On Device Research YPCC Brazil, China, India, Nigeria, US, UK n = 17657 Age 16-34 May 2013
  11. YES 56% (UK) 65% (US) 96% (Nigeria) 78% (India) 91% (Brazil) 91% (China) NO 21% (UK) 17% (US) 2% (Nigeria) 9% (India) 4% (Brazil) 6% (China) Do you expect to get a better paid job than your parents? Young people in developing countries believe they have better career prospects than previous generations & are nearly a third more confident about getting a better paid job than their parents vs young people in the UK &US (89% vs 60%).
  12. Young people in growth markets also expect that it’s more likely they will need to relocate to get a job. Do you expect that you will need to relocate to get a job? YES 35% 37%37% 45%69%52% Source: On Device Research YPCC Brazil, China, India, Nigeria, US, UK n = 17657 Age 16-34 May 2013
  13. Social media impact on young people’s careers
  14. Have you ever been rejected for a job because of comments or pictures on your online/social media profile? YES 9% 6% 8% 7% 8% 5% 10% 7% 4% 5% 16% 14% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 16-24 25-34 UK US Nigeria India Brazil China One in ten young people have been rejected for a job because of their social media profile, this figure is higher in China. Source: On Device Research YPCC Brazil, China, India, Nigeria, US, UK n = 20225 Age 16-34 May 2013
  15. Yet the majority, nearly two thirds are not concerned that their use of social media now, may harm their future career prospects. Young people in growth markets are slightly more concerned about the impact of social media. 71% 70% 63% 63% 63% 49% UK US China India Nigeria Brazil % of 16-34s who said no Are you concerned that your use of social media now, may harm your future career prospects? Source: On Device Research YPCC Brazil, China, India, Nigeria, US, UK n = 17657 Age 16-34 May 2013
  16. It also does not deter the 16-34 age group from using social media, even though it may harm their future career. 68% 66% 61% 60% 77% 58% 17% 17% 19% 20% 11% 29% UK US China India Brazil Nigeria No Yes Does the possibility of social media impacting your future career, deter you from using it? Source: On Device Research YPCC Brazil, China, India, Nigeria, US, UK n = 17657 Age 16-34 May 2013
  17. Have altered online/social media presence 17% 27%18% 47%54%32% Source: On Device Research YPCC Brazil, China, India, Nigeria, US, UK n = 17657 Age 16-34 May 2013 To look good to friends 16% 15%19% 38%41%26% To look good to prospective employers 16-34s are more likely to have altered their social media presence to look good to their friends, rather then prospective employers.
  18. 72% 40% 40% 11% 5% 8% 69% 41% 32% 11% 12% 6% 82% 38% 30% 19% 4% 5% 85% 9% 24% 4% 1% 4% 73% 6% 4% 1% 0% 1% They own a mixture of social media accounts but predominantly Facebook is the most popular platform. Own website Source: On Device Research YPCC Brazil, China, India, Nigeria, US, UK n = 17657 Age 16-34 May 2013
  19. YES 9% (UK) 9% (US) 19% (India) 23% (Brazil) 27% (China) YES 11% (UK) 11% (US) 14% (India) 25% (Brazil) 27% (China) Would you pay to use social media? Would you pay to have your social media profile enhanced? e.g connect with a celebrity However popular social media is, the majority would not pay to use it or to connect with celebrities.
  20. Summary Young people’s consumer confidence • Young people in growth markets are at least twice as confident, compared to those in developed markets. Although someway behind their counterparts across the world, young people in the US & UK are showing signs of increased confidence. • Confidence in growth markets is being fuelled by a positiveness about their future, they are especially confident about their future employment prospects (66 v 33). • They firmly believe they will get a better education than their parents (88%) vs their counterparts in developed markets (64%). They also believe they will earn a better salary than their parents (89%) where as young people in developed markets are less confident (60%). Social media impact • If getting a job wasn’t hard enough in this tough economic climate, one in ten young people have been rejected from a job because of their social media profile. • Yet worryingly the majority (two-thirds) are not concerned that their use of social media now, may harm their future career prospects and are not deterred from using it. • They are also more likely to have altered their social media profile to look good to their friends, as opposed to prospective employers. Better education of the impact of social media is needed, to ensure young people are not making it even harder for themselves to get on the career ladder.
  21. Sarah Quinn sarah@ondeviceresearch.com +44 (0)207 278 6627 www.ondeviceresearch.com @ondevice Follow us on Slideshare
  22. Sign up to our newsletter to receive the next wave of YPCC data & analysis. Interested in carrying out your own mobile research? Contact us info@ondeviceresearch.com +44(0)207 278 2267
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Facebook costing 16-34s jobs in tough economic climate One in ten young people have been rejected for a job because of their social media profile We have just finished the third wave of our young people’s consumer confidence (YPCC) index, which is designed to help businesses understand what young people (16-34) think about their current and future economic and employment prospects, in both developed and growth markets. The index covers 6000 16-34 year olds across six countries and revealed some surprising results. Impact of social media on careers If getting a job wasn’t hard enough in this tough economic climate the survey revealed that one in ten young people have been rejected for a job because of their social media profile. Yet worryingly the majority (two-thirds) are not concerned that their use of social media now may harm their future career prospects and are not deterred from using it. They are also more likely to have altered their social media profile to look good to their friends, as opposed to prospective employers. Better education of the impact of social media is needed, to ensure young people are not making it even harder for themselves to get on the career ladder. Consumer confidence At the top line level consumer confidence levels amongst young people in growth markets are twice as high as the UK and US. Young Chinese and Nigerian consumers have the overall highest confidence levels, indexing at 39, followed closely by Brazil (37) then India (37). In comparison, Britons index at just 16 and the US at 19. Future employment Confidence in growth markets is fuelled by optimism about their future employment prospects, with 88% firmly believing they will get a better education than their parent’s vs their counterparts in developed markets (64%). They are also more confident about earning a higher salary (89%) where as young people in developed markets are less certain (60%).

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