A new census report confirms that Millennials have different values on economic and social topics compared to Gen X members and Baby Boomers. About 55 percent believe that marrying and having kids is not very important.
However, the young Americans in the age bracket 18 to 34 view education and economic accomplishments as extremely important aspects of being an adult. The report compared the response of millennials regarding education, relationships, and economic accomplishments to people from the same age group from census data in 1975.
Different in almost every regard
The new report from the U.S. Census Bureau said that the data showed the different outlook of today’s young adults from prior generations. The differences are not small and reflect in almost every aspect such as the education they have, work experiences, starting a family, and who they live with while growing up, Time reported.
“It comes as no surprise that when parents recall stories from their youth, they are remembering how different their experiences were,” the report said. In the area of marriage, for instance, in 1975 by age 30, 80 percent were married, while now, 80 percent are married at age 45.
Living with parents
Unlike their older counterparts who became independent and left their home when they turned 18, about one-third of American millennials, or 24 million, live in their parents’ home.
However, the census considered those living in college dormitories as their parents’ home likely because it is still dad and mom who pay for their dorm fees.
A previous survey by CoreLogic confirmed the census data. It found that the number of young people buying properties is decreasing as more people born between 1980 and 2000 live with their parents or rent because of financial constraints.
Of the few who are purchasing properties, their top choice is Utah County.
Young adults living independently in their own household was the predominant living arrangement in 35 states in 2005. After 10 years, only six states have young people living independently. Along with living with their parents, 25 percent do not go to school and are unemployed.
This accounts for around 2.2 million millennials in the age group of 25 to 34.
Video games and smartphones
Some of these individuals also spend at least three hours a day playing video games on gadgets or fiddling with their smartphones. Another study by the Center for Disease Control and Prevention found that the time millennials spent playing video games increased to 41.7 percent in 2013 from 28.1 percent in 2005.
These studies help older generations understand better the different behavior of the young people today. In the case of companies, some are willing to pay intergenerational consultants fees of up to $20,000 an hour to have a better understanding of millennials on their payroll.
