The youngest millennia are now adults, but how do they stack up against older generations?
The answer depends on whether they went to college, according to a report from the Pew Research Center. The good news: The millennia, those born between 1981 and 1996, are more educated than any generation before them. The bad news: The economic dividing line between those who have earned a college and those who were not broad.
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Pew looked at seven categories: education, employment, income and wealth, housing, family, voice and the future of the population. Here are some of the ways millennials compare:
• Education: Nearly four in 1
• Employment: Millennials have a reputation of never being too long at work, but they actually remain with an employer just as much as their Gen X counterparts did at the same age. Nearly eight in 10 millennia (79%) and 77% of Gen Xers at the same time in their lives reported working for their current employer for at least one year and one month. Half of these groups said they worked for their employers for at least five years.
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Most young women participate in the workforce, a trend that began with baby boomers. Women are in some cases in danger of having less saved for retirement, because they can earn less than men in similar positions, or have to leave the workforce to take care of a child or a loved one. Politicians, including President Trump and Elizabeth Warren, the Massachusetts Democratic Senator running for president in 2020, have expressed interest in profitability proposals that will offset childcare costs and potentially help families, but especially women, save more for retirement.
• Income and wealth: Millennial's household income was $ 71,400, equivalent to generation X's median household income of $ 70,700 in 2001 (adjusted to the 2017 dollar and household size), according to Pew. Household income is for anyone living in the household, who for thousands of years may contain non-spouse or family members. (Many millennia simply can't afford to live alone, so they choose roommates if they don't marry or continue to live with their parents.)
Although youth pay has been relatively flat over the past 50 years, thousands With a college degree doing better than those who did not earn a bachelor's degree. College graduates had a median annual salary of $ 56,000 in 2018 if they had a bachelor's degree, compared to $ 38,900 for those who had some college education. For millennial households, median-adjusted household income was $ 105,300 for those with at least a Bachelor's degree, compared to about $ 49,000 for high school students. The $ 56,000 difference is very different from previous generations, which was $ 41,200 for late boomers and $ 19,700 for the quiet generation.
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. • Housing, family and future: The number of millennials is expected to exceed children's homes in 2019, with 73 million members, partly due to immigrants coming to the US millennium, may be more racist and ethnically diverse, but so-called Generation Z, their younger colleagues (those born between 1997 and 2012) are expected to be "the most diverse and best educated generation yet," Pew expects.
Like their stereotype of exposing adult milestones and responsibilities, the millenniums are getting married and starting families. Less than half of the millennia (46%) are married, compared to 83% of the silent generation who were married at the same time in their lives. Millennials are also waiting to have children. Less than half of millennial women (48%) were mothers in 2016, when they were between 20 and 35, compared to 57% of Gen X women of the same age in 2000 and 58% of baby boomers in 1984.