Millennials have gotten a bad rap in the media, especially from older generations. The truth is that this generation is diverse and complex. We’re not all entitled or lazy nor are we overly confident or self-centered.
Here are some interesting facts about millennials I think every millennial should know (and that every non-millennial should know too).
| Takeaways |
|---|
| 1. Millennials are shaping the future with their unique characteristics and perspectives. |
| 2. They prioritize experiences and work-life balance over material possessions. |
| 3. The gig economy is significantly impacted by millennials’ preference for flexible work opportunities. |
| 4. Millennials advocate for more inclusive and diverse workplaces. |
| 5. Technology plays a central role in the lives of millennials as digital natives. |
| 6. They are socially conscious and actively engage in causes they believe in. |
| 7. Millennials value meaningful work and seek opportunities for professional growth. |
| 8. Homeownership is not a top priority for many millennials; they prefer renting for flexibility. |
| 9. Millennials have been shaped by the rapid technological advancements of their time. |
| 10. The generation gap is evident through the list of things millennials have never heard of. |
| 11. They have a strong affinity for online communication and social media platforms. |
| 12. Millennials are driving changes in consumer trends and industries. |
1. Millennials Are The Most Educated Generation
If you were born between 1980 and 2000, you’re a millennial. And if you are one of the many millennials who love coffee and are looking for a job in the coffee industry, it’s important to know that we’re more educated than previous generations, according to The Huffington Post.
Millennials are going to college at higher rates than any other generation before them and they’re going even further than just getting a bachelor’s degree!
Millennials have earned master’s degrees at rates faster than those who graduated college prior to them; this is especially true for women and minorities, who now account for more than half of new graduates from law school and medical school.
Understanding Generation Z can provide valuable insights into the future. Check out our article on Generation Z: The Future is Yours to Make to discover how the upcoming generation is set to shape the world.
2. Millennials Are Diverse And Grown In Number
Millennials are the most diverse generation in history.
In the U.S., millennials are the most racially and ethnically diverse generation, according to US census data.
The data shows that millennials have fewer non-Hispanic whites than was true for previous generations at their age, with 24% being non-Hispanic whites (compared with 28% of Baby Boomers).
Millennials also make up more than half of all Hispanics and Asians under 30 in America today and nearly three-quarters of all American Muslims under 30. Millennials are also less religious compared with other generations.
Although only 29 percent of Millennials say they belong to a religious group, research shows that a third of them believe in God or some higher power.
Millennials’ openness to different people and cultures is key to their approachability as leaders, especially when they’re working across generations in teams or on projects together.*
3. Millennials Are Not Overly Confident
You’re probably thinking that if you were born in the ‘80s, you’d be a millennial. But no, millennials are those born between 1981 and 1996.
That means that if you were born in 1990, for example, you’re considered a member of Generation Z (the generation after Millennials).
Millennials have been pegged as overconfident and lazy but that isn’t true at all. Millennials are less confident than previous generations and more anxious and depressed than previous generations too!
As millennials, it’s essential to know what’s coming next. Delve into our piece on The Reality of Generation Z to gain a deeper understanding of the characteristics and aspirations of the post-millennial generation.
4. Millennials Go To Church Less Than Older Generations
You may be surprised to learn that millennials are less likely than older generations to attend church.
According to a Pew Research Center study, 36% of adults born between 1981-1996 said they never attended religious services in 2011 compared with only 29% of those born between 1928-1945 and 22% of those born 1946-1964.
The trend is also true for people who identify as atheists or agnostic: 2% of millennials are atheists, compared with just 1% of Baby Boomers and 0.5% of Gen Xers [2].
However, it should be noted that this does not mean that millennials don’t believe in God only 5% identify as atheists or agnostics [3]!
Perhaps the decline in church attendance has something to do with increased acceptance of non-religious beliefs? So how many millennial Christians are there? Well, let’s take a look at some numbers…
5. Most Millennials Expect To Marry And Have Children
One of the most notable changes in millennial family formation is the rise in their expectation to marry and have children.
Though many millennials still live with their parents, they are more likely than previous generations to marry (55 percent versus 42 percent) and anticipate having children (73 percent versus 64 percent).
This trend is seen across age groups: even among millennials between 18-24 years old (the oldest group), there has been an increase in both marriage rates (from 47% to 60%) and expectations to have kids within the next five years (from 74% to 85%).
Millennials are embracing side hustles like never before. Explore our article on The Rise of the Side Hustle Generation to see how this new trend is reshaping the way young people approach work.
6. Most Millennials Think They Will Be Better Off Than Their Parents
The millennial generation is more optimistic than previous generations. Millennials are more likely to think they will be better off than their parents.
That’s right: Millennials are so optimistic about their futures than they believe they’ll be better off than their parents were at that age. This optimism is embodied by the phrase “I’m going to be a billionaire,” but it doesn’t come from nowhere.
Millennials have been known for being especially entrepreneurial and willing to take risks on new opportunities.
Perhaps because of how hard it was for them in school, or perhaps because of the economic climate during the recession of 2008-2009 when many millennials were growing up (and trying to get jobs).
7. Millennials Are More Risk-Averse Than Previous Generations
You might think that millennials are a bunch of risk-takers, with their penchant for starting side hustles, quitting their jobs to become full-time travel bloggers and Instagram influencers, and venturing into some pretty odd career paths (like becoming baristas).
But it turns out that’s not the case. When you break down the data on millennials’ work history in comparison to previous generations.
You’ll see that they’re more likely to have stable jobs than their predecessors were at comparable ages and less likely to have side hustles.
8. Millennials Are Goal-Oriented, But Job-Hopping Is Common
You might think that millennials are a generation of aimless wanderers, but the data suggests otherwise.
While the average job tenure for Gen X is seven years, for millennials it’s just three years. And while only 42 percent of Gen Xers remained with their first employer for more than 10 years, that number jumps to 60 percent among millennials.
However, there does seem to be some truth behind the stereotype: millennials do tend to switch jobs more often than older generations did at their age (though not as much as you might think). They also tend to change careers and industries more often than previous generations.
9. Many Millennials Live At Home With Their Parents
You may have heard that millennials are having a hard time getting on their feet. But it’s not just because of a tough economy the fact that so many young adults live at home with their parents has gotten a lot of attention, too.
The Pew Research Center found that the percentage of 18- to 31-year-olds who live in their parents’ homes is nearly twice as high today as it was in 1960 about 32% today compared to 17% then.
And while some may see this as an indictment of millennial laziness or self-absorption, there are likely other factors at play: changing family structures, poor job prospects, and rising housing costs have made it harder for young adults to find places they can afford on their own.
Some economists say these trends could lead them to become more financially secure later in life than previous generations were able to be but only if they’re able to get out from under mom’s thumb first.
Freelancing has become a major game-changer for millennials. Learn more about the impact of freelancing in our article, Freelancing is Making Changes to the Way People Find, Accept, and Do Work, and discover how it’s revolutionizing the job market.
10. Sorry, Parents, The Avocado Toast Isn’t To Blame
While you may think it’s millennials’ fault that avocado toast is more expensive than ever, that the housing market has become unaffordable, or even that your job market has been decimated, don’t feel bad. It’s not us it’s the economy.
The Millennial generation (which includes those born between 1981 and 1996) is often blamed for everything from rising avocado prices to the problems in Washington DC but they’re not to blame for all this.
The economy is what’s holding them back and making life harder than it should be right now.
It can be hard to remember this when everyone around you seems so pessimistic about their financial prospects. If you’re one of these people who feels like millennials aren’t held responsible for anything negative in their lives, here are some reasons why:
11. More Millennials Prefer Cities Over Rural Areas
You may have heard that millennials are drawn to urban areas. But did you know just how much more likely they are to live in cities than their parents were? Or how much more likely they are to live in cities than their grandparents?
That’s right: The preference for urban life has been increasing with each generation. According to a 2018 study by Pew Research Center, 60% of millennials live in metropolitan areas as compared with 41% of boomers (born between 1946 and 1964).
In fact, according to the same survey data, only about a third of Americans between ages 16 and 24 reported living outside of an urban area a number that drops steadily as people get older and head toward retirement age:
Only 8% of those aged 65 or older say they’re living outside of a metropolitan area.
12. This Generation Is Complex And Interesting
As you can see, this generation is complex and interesting. That said, there are plenty of misconceptions surrounding millennials, and many of them are perpetuated by older generations who just don’t get it.
Your parents were probably born between the 1940s and 1960s a time that saw the rise of the baby boomers (a cohort born during this period) as well as the creation of rock ‘n’ roll music and television.
They grew up in an era where things were very different than they are today so naturally, their views may be skewed when it comes to understanding millennials.
On our part as marketers or advertisers who want to reach out to millennials for marketing purposes or brand engagement.
One thing we have learned so far from studying millennial behavior is that we should not assume anything about them based on existing stereotypes or assumptions about their behavior because those might not always be accurate at all times (if ever).
Freelancing can come with challenges, especially when dealing with clients. Check out our guide on 28 Responses to Clients Who Don’t Like Your Work as a Freelancer for expert advice on navigating difficult client situations and maintaining a successful freelance career.
Conclusion
All right, that’s the end of our list! We hope you enjoyed learning some surprising facts about this generation and that they give you new insight into what your millennial friends, coworkers, and employees might think.
We also hope it gives you some insight into what it takes to market to millennials they might be a little pickier about avocados than older generations are, but for the most part, this is a smart, diverse group of people who should not be lumped together in stereotypes.
If you’re not sure which marketing strategies work best for millennials or if you need more tips on working with them (or any other age group), check out our blog for helpful articles from marketers like yourself!
Further Reading
A Millennial World: Insights into the Next Generation
Discover the unique characteristics and insights into the millennial generation in this in-depth analysis.
7 Weird Things You Didn’t Know About Millennials
Uncover fascinating and lesser-known facts about millennials in this intriguing article.
Things Millennials Have Never Heard Of
Explore a list of things that millennials may have never experienced, highlighting the generation gap.
FAQs
What are the defining characteristics of millennials?
Millennials are often characterized as tech-savvy, socially conscious, and open to new experiences. They grew up during a time of rapid technological advancement and economic change.
How do millennials differ from previous generations in their lifestyle choices?
Millennials tend to prioritize experiences over material possessions, are more likely to rent homes instead of buying, and value work-life balance.
Are millennials contributing to the gig economy?
Yes, millennials are heavily involved in the gig economy, with many embracing freelancing, part-time work, and side hustles for flexible income opportunities.
How are millennials shaping the workforce?
Millennials are driving workplace changes by advocating for more inclusive and diverse environments, seeking opportunities for professional growth, and valuing meaningful work over just a paycheck.
What role does technology play in the lives of millennials?
Technology is a central aspect of millennials’ lives, as they are digital natives who grew up using computers and smartphones. They heavily rely on technology for communication, entertainment, and work.
Costantine Edward is a digital marketing expert, freelance writer, and entrepreneur who helps people attain financial freedom. I’ve been working in marketing since I was 18 years old and have managed to build a successful career doing what I love.