Chart of the Week: It’s a Millennial Takeover! Or Is It? (Part II)

Chart of the WeekThe behavior of millennials as it pertains to their financial lives was examined in Part I, and this part will dive more into the demographics of the 18- to 33-year-old group. According to a Pew Research Center study, millennials are the most educated generation to date, with women gaining a significant advantage in educational attainment.

In addition, 63% of young female millennials are employed, versus 69%, 60%, and only 38% who were employed in the Gen X, baby boomer, and silent generations (respectively) at ages 18 to 33. Millennials are also not marrying as young as their predecessors, if they are married at all, as 68% of these people have never been married. Conversely, only 32% of people from the silent generation had never been married in 1963, with the average marrying age of men and women at 23 and 21, respectively. America is also becoming more racially diverse, which means that the millennials are more likely to be members of racial or ethnic minorities (43% for millennials versus 22% for people ages 69-84).

Summary

  • Millennials are the most educated generation, with women gaining a significant advantage in educational attainment.
  • 63% of young female millennials are employed, versus 69%, 60%, and only 38% who were employed in the Gen X, baby boomer, and silent generations (respectively) at ages 18 to 33.
  • 68% of millennials have never been married, versus only 32% for the silent generation at 18 to 33 years old.
  • Millennials are more likely to be members of racial or ethnic minorities.

 

Millennials are the most educated generation to date, although student loans appear to be impacting life decisions such as marriage and starting a family. Learn more investing for life events:
Individual Investors | U.S. Investment Professionals

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The opinions expressed are those of our investment professionals, and are no guarantee of the future performance of any American Century Investments® portfolio. This information is not intended to serve as investment advice; it is for educational purposes only.