For older generations, millennials are a whole new species. Millennials — born roughly between 1980 and 2002 — are the generation du jour. They’re coming of age — or are there already — in a world where cell phones and Wi-Fi are the norm, and Facebook friends, as significant as real ones. The millennial generation tends to be relatively unattached to politics and religion, is in no rush to marry and is optimistic about the future, the Pew Research Center reports. Here are 10 other things you might not know about about millennials but should.
Optimism is a hallmark of the millennial generation. Despite higher levels of poverty, unemployment and personal income than either generation X’ers (born early 1960s to the early 1980s) or baby boomers (born 1946 and 1964), millennials remain confident that their financial future will turn around. They worry less about long-term stability and more about living in the moment.
As a whole this generation is highly educated, but they are also burdened with more student loan debt than any generation before them.
By 2015, millennials will account for 36 percent of the American workforce. By 2025, millennials will account for 75 percent of the world’s workforce.
Millennials have a different type of work ethic from baby boomers and gen X’ers and because of this, corporations will see a major shift in the way business is done over the next decade. Millennials value transparency in the workplace as well as honesty and place meaningful work above everything else.
As millennials take over the business world, expect working from home to become the norm. But just because you’re working without direct physical supervision, don’t expect to be a lone wolf. Millenials also value team work highly.
Millennials are the most racially diverse generation America has ever seen, according to a study done by the Pew Research Center. Some 43 percent of the millennial generation is not white.
Millennials who embrace an entrepreneurial spirit and start their own companies tend to do better than those stuck in traditional 9-to-5 office jobs. As a result the gap between rich and poor millennials is also greater than any other generation. Facebook’s Mark Zuckerberg might be worth billions, but some of his Harvard classmates likely still live with mom and dad.
The latest Pew Research Center survey determined that when compared to other generations, half of all millennials described themselves as “independent” politically.
Religion is also less important to this generation with 29 percent reporting they are not affiliated with any religion — the largest level of religious unaffiliation for any generation in the last 25 years.
The Pew Research Center asked millennials if they believed that other people could be trusted. Just 19 percent responded that they could. This compares with 31 perent of gen X’ers and 40 percent of boomers who said they believe other people can be trusted.