A lot of discussion has been had on the effects of high unemployment on adult consumer habits, but new studies by The Opportunity Nation coalition indicate the future might look even more bleak. According to the domestic-only study, over 15% of young adults ages 16-24 are not in school or work. That's over 6 Million young people missing chances to propel careers academically or experientially. Statistics get worse when age is extended to 30. Persons under 30 make up over 41% of unemployed people in America, roughly 9 Million people.

A separate U.S. study, published by Huffington Post, indicates that over 850 students drop out of high school every hour of every school day. College-age suicides are on the rise and are the highest death risk for College students, according to a separate University of Virginia study. College degrees don't mean what they used to; graduates continue to struggle to find gainful employment. Millennials’ fathers and mothers are expected to retire later than previous generations. That means fewer jobs are becoming available for young people.

Some experts are calling this Millennial group a new Lost Generation. This generation is likely to be the first since Kennedy's historic speech to fail to surpass the success of its parents' generation. "We have the power to make this the best generation of mankind in the history of the world or to make it the last," said then-president John F. Kennedy.

The effect, in essence, is twofold: increased crime and decreased opportunity. But it's the latter that is most concerning. When young people require longer to enter the adult working world both marriage and birth rates decline. Studies by Pew Research indicate birthrates in 2011 were the lowest in recorded American history, and experts expect that rate to continue to fall. An AdAge article focused on Millennials claimed 40% of Gen Yers are parents with another 40% likely to become parents within the next 10-15 years. Even employed Millennials are having trouble getting started; 44% of Millennials are “very financially stressed,” according to AdAge.

Declining birthrates and low annual income for parents should signal alarm bells for the toy industry. Fewer kids means fewer toys sold. Lower income at time of early parenthood means lower toy revenue per parent. During the Great Depression, the last time America had a “Lost Generation”, joblessness prevented marriage and family development so thoroughly that the birthrate fell below the replacement level (the replacement level refers to the ability of a population to have enough babies to replace themselves). Don’t expect the toy industry to be sent back into the pre-plastics dark ages, but a drop in birth rate its the toy industry tougher than many other industries.

But the toy industry should also see Millennials as a “Lost Generation” of thinkers, sculptors, inventors, designers, and marketers. The lifeblood of the toy industry is carried through the veins of creative visionaries capable of capturing the vital play habits of each forthcoming generation. Visionaries come in all shapes and sizes as well as all ages. But older generations have professed a bizarre difficulty in understanding this new generation. Various reports have called millennials “coddled and lazy,” “focused on material value,” and “less civically and politically minded.” Are Millennials to blame for their own shortcomings? Still other studies indicate Millennials are more liberal, upbeat, and open to new ideas. The so-called “Me Generation” spends freely, complains loudly and openly, focuses creatively and engages digitally. Marketers know that brands succeed with millennials by sparking attention, invoking irreverent comedy, and providing a merited rationale for why the brand should matter to “me.” This generation is very cognizant of when they are being marketed to and often reject “inauthentic” efforts that other generations might embrace, according to a report by Live Science.

Most likely, the Millennial generation is confusing and frightening for older generations because they are more intuitively familiar with new technologies, more digitally active, and more emotionally charged. More than ever, son and daughter are in job competition with father and mother. Young adult is in job competition with the post-middle aged worker, leading to a strained relationship.

What effects will young adult joblessness have on the future of our industry? That remains to be seen, but let's work harder at engaging new generations of creative visionaries, even if we don't understand them. Maybe this generation can help bridge the innovation gap so our industry can find new ways to for the kids of tomorrow to play.

In his roles as Digital Strategy Director of Consumer & Entertainment Brands at Manifest Digital, Co-Founder at toy invention studio Otherdoor Entertainment, and ChiTAG committee member, Brian Torney is an innovator in the play industries, kids entertainment, and product/brand initiatives. Refusing to grow up, Brian has been contributing to the play industries since the age of 15, when he worked at a Chicagoland Toys R Us store. Brian spearheads ground-breaking creative and interactive projects for industry-leading entertainment and toy companies including Cartoon Network, Fox, Nickelodeon, Step2, The Marketing Store, McDonald’s, THQ and Hasbro. He specializes in cross-platform brand storytelling. Brian also practices ancient Jedi techniques of mind control… These are not the droids you’re looking for.