Millennials. The skinny jean wearing, side parting styling and coffee guzzling generation. Ok, whilst these are all stereotypes, perceptions of this generation seem to be all over social media recently. But who are millennials? When were they born? And what do we know about them?
What birth year is a millennial generation?
Depending on the year you were born, you will fall into a particular generation – and there are lots of them! You may have heard of Generation Z (also known as Zoomers) are the generation succeeding Millennials.or Also known as 'Baby Boomers'. These are people born in the years 1946 to 1964 during the mid-20th century baby boom., but millennials are probably the cohort you have heard about the most.
It can be hard to determine exactly when one generation ends and gives way to the next however, it is suggested that millennials are the generation of children who are born between the years of 1980 and 1996, though some sources may differ by a couple of years.
They are known as millennials as some of the oldest in this cohort will remember celebrating the turn of the A period of one thousand years.. Millennials can also be referred to as Generation Y, because they came after Generation X and before Generation Z.
What do we know about the millennial generation?
Every generation has good and bad characteristics associated with it. Often the perception around millennials can be quite negative and stereotypical but there are positive features and trends that truly define this generation.
Millennials are the largest adult cohort across the world
According to the World Economic Forum, millennials are now the largest adult cohort worldwide, making up approximately 23% of the world’s population. They have exceeded baby boomers as the biggest group and they will continue to be a large part of the adult population for many years to come.
Millennials are 'digital natives'
Dr Abramson, an expert in what are known as ‘generational cohorts' has described this generation as 'digital natives'. This is because millennials had to familiarise themselves with many digital advancements such as mobile devices and social media.
They were also to the first generation to grow up with the internet, learning how to use them in schools, which resulted in them becoming the first generation to be proficient in computers and developing a higher level of digital literacy. Whilst millennials’ experience with digital tools will vary around the world, it is accepted that millennials are more comfortable with technology than older generations.
Millennials love avocado on toast
Ok, we confess, this is definitely a stereotype of this cohort but, since this has now become associated as a staple of the millennial diet, where did this stereotype come from?
Whilst this generation does seem more drawn to this green fruit’s star power than previous generations, it could be associated with their interest in leading a healthy lifestyle. Millennials have been referred to as 'the wellness generation' with this cohort exercising more, focussing on healthy eating and smoking less.
Millennials are more formally educated than previous generations
Millennials are a highly educated generation. According to the House of Commons Library, around 40% of people in their late 20s and 30s have graduated from university in the UK. Compared to previous generations such as Boomers, with 25% having degrees and the Also known as traditionalists, are people who were born between 1928-1946. at just 15%, this is a much higher statistic. Research also indicates that millennial women are more likely to have a degree than men who are of the same age. This is the first generation where this has been the case.
Millennials have been shaped by economic circumstance
The 2008 financial crisis led to deep When a country's economy shrinks for two three-month periods - or quarters - in a row.in the UK. It caused rises in unemployment and debt, meaning that young people entering the workforce around that time would have experienced high levels of unemployment and lower wages. As prices have risen faster than wages since millennials have been in employment, this has made it more challenging for some to make major financial commitments such as starting families and purchasing property.
Millennials are the ‘selfie generation’
How do you weigh a Millennial? - In Instagrams… (we’re sorry!)
Although millennials didn’t invent the selfie, they were certainly the generation that loved to take one. The first smartphone with a forward-facing camera was the watershed moment for being able to take photos of your face with ease. Paired with their understanding of the internet and the rise of social media platforms such as Instagram, being able to share a selfie online became easier than ever.
From pouting lips to the infamous dog filter, the immediacy of being able to share a photo was exciting to some. Though, to others, a millennial’s passion for taking selfies seems to contribute to the stereotype that they are ‘self-obsessed’.
Millennials value purpose-driven work
Whilst some perceive millennials in the workplace as ‘lazy’ or ‘soft’, research into this generation suggest that it is a motivated cohort that values efficiency. For millennials, working is more than just about making money but also about seeing value in work they do.
Millennials are reported to value roles whereby they can make a positive impact, improve processes and find opportunities for progression. Dr Abramson explains that employers should try to remember that millennial employees are about giving back. As such, some millennials will aspire to work for companies who value the things they do, for example, sustainability.
Where can I learn more?
Want to know more about millennials? Perhaps you now want to know more about other generational cohorts. Check out these articles and resources!
Millennials, baby boomers or Gen Z: Which one are you and what does it mean?
