A snapshot summary of the demographics of Generation Y, the echo boom of the baby boomers. Please keep in mind that this is a blanket generalization for an entire generation and shouldn’t be taken as anything more than an observed trend of a large populace.
Demographics of Gen Y
- Born from 1977-2001 (estimated – majority between 82 and 94)
- Aka. Echo Boomers or Millennials
- Children of Baby Boomers, some children of Gen X
- Oldest holding entry level positions in workforce; youngest in elementary/middle school
- Nearly 80 million in population (larger than the baby boomer population of 72 million)
- Ethnically diverse (34% are Black, Hispanic, Asian, or Native American)
- One in four live in single–parent households
- 75% have working mothers
- Highest level of education compared to previous generations.
- Women may have a higher salary than men due to college admission rates in favor of women.
- College graduates graduate with an average of $20k-30k debt.
- Recession impacting Generation Y income – education, debt, high cost of living causing many to return to school, struggle to find jobs, and/or live with family/friends.
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