Few grads employed full time
As many college grads struggle to find full-time work relevant to their field of study, they may increasingly rely on cash, in an effort to keep from accumulating credit card debt or paying interest each month. As such, merchants will need to be prepared with money counters that will streamline business processes.
According to a new Gallup poll, fewer Americans aged 18 to 29 have secured full-time employment in recent months. According to the survey, the number of younger people who were employed full time dropped to 43.6 percent in June 2013, compared to the 47 percent seen last year, the 45.8 percent experienced in 2012 and the 46.3 percent recorded in 2010.
The low number of younger Americans employed full time can have significant repercussions for the economy. Those working only minimal hours a week may be turned down for credit cards and have to rely solely on cash and checks to make purchases, while others may feel more comfortable using these payment methods, as they eliminate the risk of accruing debt or paying high interest rates. This makes it essential for retailers to have a cash and check scanner that can optimally handle these transactions.
August 14, 2013