The millennial generation is usually defined as those born between 1981 and 1996, with its oldest members turning 40 that year. Gen Z is more diverse, but the oldest members of Gen Z turned 24 this year and still don't make up a significant portion of the workforce. The Pew Research Center found that among older millennials born between 1981 and 1988, 43 percent personally identified as a member of the oldest demographic cohort, Generation X, and only 35 percent identified as millennials. A report published by the Pew Research Center describes Generation Z as "post-millennials" and says those who fall into this category were born since 1997.
83.1 million
All those born between 1982 and 2000, which is now 83.1 million people, or more than a quarter of the US population, are considered millennials by the US Census Bureau. While many may disrespectfully refer to all young people as millennials, the term is actually meant to refer to people born between 1981 and 1996. new generation. Millennials, meaning those born between 1980 and 1994 (age 27-41 in 2021), currently make up the largest group of adults in the world.
Generation X
Between 1981 and 1996, an average of 3.6 children were born each year (millennials), compared with 3.4 million (generation X) between 1965 and 1980. Data from the National Center for Health Statistics shows that about 62 children were born in the United States. million Millennial nations compared to 55 million Gen Xers, 76 million Baby Boomers and 47 million Silent Generations. Generation X has about 65 million members, while Baby Boomers and Millennials have about 72 million members each.
40 percent
In the U.S., one-third of millennials live with a spouse and children, compared with 40 percent of Gen Xers. For the same reason, millennials are more likely than previous generations to live with millennial parents. While previous generations started having children at this age, fewer and fewer millennials are becoming parents.
Far from College
Millennials are far from college now, and this stage of life is dominated by Gen Z. Most American millennials were affected by 9/11, the Iraq War, and the 2008 economic downturn, while Gen Z may have little or no memories of 9/11. . The millennial generation was between the ages of 5 and 20 when the September 11 attacks rocked the country, and many of them were old enough to understand the historical significance of that time, while most of the next generation have little or no memory of these events. event.
Large Gap
The Pew Research Center believes that, for analytical purposes, 1996 represents a large gap between Millennials and Gen Z for a number of reasons, including key political, economic, and social factors that shaped Millennials' formative years. To keep Millennials analytics relevant and start exploring what might be unique about the next generation, Pew Research Center decided a year ago to use 1996 as the last millennial birth year for Pew Research Center's future work .
Updates
The Pew Research Center regularly updates the age ranges it uses to define intergenerational groups known as the Silent Generation, Baby Boomers, Generation X, and Millennials. Generation groups are (approximately) determined by birth year, not current age.
Generation X
At 16 years old (from 1981 to 1996), our definition of a millennial's job matches the age of the previous generation, Generation X (born between 1965 and 1980). According to our working definition of millennials, the life expectancy of both is shorter than the life expectancy of baby boomers (19 years), the only generation officially designated by the US Census Bureau based on the famous post-World War II birth rate boom in 1946 and the large post-war decline. Birth rate in 1964 Researchers and popular media use early 1980s as initial birth years and mid 1990s to early 2000s as last birth years, with 1981–1996 being the widely accepted definition range for millennials.
Very different
These two groups may seem young, but millennials and Gen Z, and later Gen Z, are very different in how they shop, interact with brands, and relate to money. Gen Z responds differently to offers and marketing campaigns than millennials, so it’s time to explore the key differences between how and when these two groups shop.
Gen Z
Gen Z is attracted to purchases that maximize the value of each dollar, while millennials are more interested in the overall buying experience of a product. Generation Z tends to be more interested in savings than Millennials at that age.
Financial Security
Gen Xers believe they will have a harder time securing financial security than parents (80%) compared to millennials (77%) and baby boomers (73%). While millennials' current fortunes are not one, but two once-in-a-lifetime economic crises in the most important years of their careers, millennials will inherit more than $68 trillion from baby boomers and early adopters . , potentially making them the wealthiest generation in American history.
20s and 30s
Lots and lots of people in their 20s and 30s. Many simply do not feel part of the generation. Some of the people who make fun of millennial issues may be inside millennials. Whether it's millennials not keeping in touch using emoji, or Gen Z taking charge of the TikTok craziness, different generations are always clashing.
