Take em’ or leave em’, but by 2020, the Millennials will make up a third of all adults
in the United States.
You may be familiar with their other labels, like: Gen Y, Generation Me, The Boomerang
Generation, and countless others.
But basically, they are the people born between the early ‘80s and the 2000s.
Right now, that makes them between the ages of 15 and 34.
This year, they are set to outnumber the baby boomer generation, which is in decline.
Let’s break down American generations for a minute.
The Millennials are the latest definitive generation to emerge, according to reports.
Before them, it was Generation X, or people born between the ‘60s and the ‘80s.
This generation came of age during the Reagan era.
It’s smaller in population size, and a little more conservative.
Before that came the Baby Boomers - born between the ‘40s and ‘60s - named for the population
spike after World War II.
They are known for their rejection of authority as youths... and their increasingly conservative
outlook as they age.
Before them, it was the Silent Generation, whose members grew up during hard times like
the Depression and McCarthyism.
Then, taking us back to the early 1900s, the Greatest Generation, is known for fighting
the Nazis and boosting US economy.
But, coming back to the present - this year is the beginning of the age of the Millennials.
The Brookings Institution estimates that by 2025, they will make up about 75% of the workforce.
Their influence is already changing the landscape of the political and business world.
What are millennials known for?
Their defining characteristics, according to the white house, are: exposure to the internet
during formative years, more education and racial diversity than ever before, and unfortunately
coming of age during a recession.
They are also labelled “narcissistic” and “lazy” by other sources, although
this is disputed.
The Pew Research Center notes that Millennials are overwhelmingly liberal.
They generally support gay marriage, abortion rights, and are not religious.
They hail from incredibly diverse backgrounds, and are burdened with large student debt.
Higher levels of unemployment have also plagued them worse than previous generations.
A 2012 Pew survey found that 7 out of 10 Americans across all age groups felt that today’s
youth had a harder time finding jobs, saving for the future, paying for college, and paying
for a home than earlier generations.
Although some challenges lie ahead for Millennials, there’s still time for them to figure everything
out.
The largest age group for the generation is just 23 years old.
With about 80 million strong, they are poised to have a huge effect on the direction of
the United States and the world in years to come.
Millennials are more familiar with student loan debt than any generation before them…
but what happens if they can’t pay it back?
Watch this video to find out.
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