Millennials, also known as Generation Y or Gen Y, are the demographic cohort born roughly between 1980 and 1996, though some sources vary slightly on the exact years (commonly 1981 to 1996)
. They follow Generation X and precede Generation Z.
Key Characteristics of Millennials:
- Digital Natives: Millennials grew up during the rise of the internet, smartphones, and social media, making them the first generation to be highly tech-savvy and comfortable with digital technology from an early age
- Diverse and Inclusive: They tend to embrace cultural, ethnic, and social diversity and value inclusivity, equality, and social justice
- Economic Challenges: Many millennials faced economic hardships such as the Great Recession of 2007–09, leading to delayed life milestones like marriage, homeownership, and starting families. They often carry significant student loan debt
- Education and Adaptability: Millennials are among the most formally educated generations and are adaptable to changing technologies and social environments
- Work and Lifestyle: They prioritize work-life balance, personal fulfillment, and purpose-driven careers. Many engage in side hustles alongside full-time jobs and value experiences like travel and social activities over material possessions
- Political and Social Views: Generally, millennials tend to be more politically liberal and socially conscious compared to earlier generations
Demographic Impact:
- Millennials have become the largest adult generation in many countries, including the United States, where they surpassed Baby Boomers in size and workforce presence by 2019
- They represent a significant consumer group with substantial spending power and influence in business, politics, and culture
In summary, millennials are a large, diverse, and digitally adept generation born around the 1980s to mid-1990s, shaped by unique economic and social events that influence their values and behaviors today.
