Marsh & McLennan Advantage Insights logo
Conversations and insights from the edge of global business
Menu Search

Quick Takes

More Than Half of the US Is Now a Millennial or Younger

Source: Brookings Institute

More than half — 50.7% — of the United States’s total population is now made up of the millennial and younger generations. 

Census data also shows that this age group is America’s most racially diverse generation in history — an estimated four of 10 Americans identify with a race or ethnic group other than white. As these generations continue to move into leadership roles in society, they have a growing impact on organizational and corporate culture, along with U.S. politics as voters and policymakers. 

These generations have been particularly vocal about environmentalism and social justice issues, especially the Black Lives Matter movement, and the topics are already factoring strongly into new corporate and political initiatives. A testament of the impact of these generations and their values will be seen in the extent to which climate and racial justice issues are likely to shape this year’s U.S. election conversation.

Shifts in Precipitation Patterns Threaten Health and Food Security

Temperatures will rise between 1.8 and 2.4 degrees Celsius by 2100, according to a Climate Ambition Tracker analysis of the decarbonization commitments made by countries at the 2021 COP26, which does not rule out higher levels of warming. 

In its latest report, the Intergovernmental Panel on Climate Change highlights how climate change is shifting global precipitation patterns: On average, wet regions are expected to become wetter and dry regions drier. 

Extreme rainfall events are becoming more common, and flood risk is increasing. Climate change is also reducing water availability in many regions, exacerbating drought, wildfire and health risks. According to the World Health Organization, by as soon as 2025 half of the world’s population will be living in areas impacted by water scarcity. Changes in rainfall and rising temperatures will also compromise food security by reducing crop yields and livestock productivity.

How Much Could Global Warming Impact the World Economy?

The effects of a 3.2 degree Celsius warming would reduce global GDP by 18%, according to The Swiss Re Institute. The increase in global temperatures has already reached 1 degree Celsius and is accelerating. To contain global GDP losses to 4% by 2050, warming would have to be below 2 degrees Celsius.

In August, the Intergovernmental Panel on Climate Change launched the first installment of its Sixth Assessment Report. The document posits that the Paris Agreement goal of holding global warming well below 2 degrees Celsius above pre-industrial levels will not be achieved without “immediate, rapid and large-scale reductions in greenhouse gas emissions.” 

World leaders met in November at COP26 to redouble their commitments to curb emissions. According to the Climate Ambition Tracker, global temperatures are set to rise between 1.8 and 2.4 degrees Celsius by 2100, depending on whether all decarbonization targets announced at COP26 will be implemented, with the risk of even more pronounced warming. 

The Pandemic Is Weakening the Stigma Around Mental Health

The prevalence of anxiety and depression has doubled in some countries during the pandemic, according to a report from the OECD. “Risk factors generally associated with poor mental health — financial insecurity, unemployment, fear” have heightened since COVID-19 hit, the report says, while beneficial factors, including social connection, “fell dramatically.”

The study notes that “differences in the openness of populations to discussing their mental state also hampers cross-country comparability,” referring to the stigma around mental health. Mental health is stigmatized through negative judgements, discrimination or dismissiveness toward those with trauma, depression, etc., which becomes a barrier to getting help, according to NAMI. But the spike in mental health issues has also led to a growing willingness to recognize and talk about such issues — chipping away at the stigma

Most countries have increased mental health resources during the pandemic. But, the OECD says we need a systemic-level response that includes assured mental health services and employers who actively support and contribute to the mental health of their employees.

Inflation Numbers Grow Among Lasting Pandemic Effects

For many countries, inflation rates hit year-long highs. According to the U.S. National Bureau of Statistics (NBS), the country’s core CPI — an index that accounts for the volatility of energy and food prices — increased 4.58% from October 2021, a year-high. Similarly, departments from the U.K. and China report a year-over-year increase. China’s NBS reported a 1.5% increase for October while the U.K.’s Office for National Statistics reported a 4.2% increase.

For the United Kingdom, inflation is a symptom of rising energy costs as a result of Europe’s gas crisis, statisticians say. Transport is the second-largest contributor to inflation, followed by restaurants and hotels and education. Similarly for China, the rise in inflation is due to a rising cost of energy, as well as a vegetable shortage caused by heavy rainfall.

Get ahead in a rapidly changing world. Sign up for our daily newsletter. Subscribe
​​