Millennials, also known as Generation Y, are the demographic cohort born approximately between 1981 and 1996, though some sources vary slightly by a year or two
. This generation follows Generation X and precedes Generation Z. Key characteristics and context about Millennials include:
- They came of age around the turn of the millennium, hence the name "Millennials"
- They grew up during significant technological advances, including the rise of the internet, smartphones, and social media, making them the first "digital generation"
- Millennials experienced major historical events during their formative years, such as the September 11 attacks, the wars in Iraq and Afghanistan, and the Great Recession of 2007–09, which affected their economic outlook and life milestones
- They tend to be more educated than previous generations, with a high percentage holding college degrees
- Millennials are known for being tech-savvy, valuing experiences over material goods, delaying traditional life milestones like marriage and homeownership, and having a more liberal and diverse outlook compared to earlier generations
- In the workforce, Millennials are influential, often balancing full-time jobs with side projects, and are reshaping work culture with their adaptability and confidence
- They currently make up a significant portion of the adult population and workforce, particularly in the United States, where they surpassed Baby Boomers as the largest adult generation around 2019
In summary, Millennials are the generation born roughly between 1981 and 1996 who have been shaped by rapid technological change, significant global events, and evolving social and economic conditions, making them distinct in their values, behaviors, and challenges compared to other generations