of under 40 workers
Born between 1981 and 1996, millennials comprise 35 percent of the U.S. workforce, and they’ll make up 75 percent by 2030. They’re more likely than other generations to have the newest technology and turn to the internet for answers. They’re much more racially diverse, and interested in a company’s mission rather than money compared to previous generations
And, for the first time in U.S. history, millennials rub elbows with four other generations at work:
The following stats are designed to inform job seekers of the unique opportunities and challenges each generation faces in the workplace. We take a close look at what makes millennials different from other generations of workers and what they expect from work. Here’s what you need to know:
In 2019, 55 percent of workers expect to retire after age 65, up from 15 percent of such workers in a 1996 survey.
And while 10,000 baby boomers retire every day, only 5,900 leave the workforce daily.
In 2016, millennials surpassed Generation X to become the single largest generation in the U.S. labor force.
Roughly a third of Americans in the labor force (35 percent) are millennials, while Generation X makes up 33 percent.
And Generation Z is closely behind millennials, as 42 percent of 17 to 23 year olds are already gainfully employed in either full- or part-time jobs, or as freelancers.
By 2045, the United States is projected to become a “majority-minority” nation in which non-Hispanic whites of all ages will constitute less than 50 percent of the total population.
Forty-four percent of millennials are people of color.
In 2018, just under half (48 percent) of post-millennials were people of color.
Gallup data revealed that 21 percent of millennials reported changing jobs in 2016, which is more than three times the number of non-millennials.
In 2016, 63 percent of employed millennials reported that they had worked for their current employer for at least 13 months, and 22 percent for five years.
In 2000, 60 percent of Generation Xers reported the same tenure, and 21.8 percent for five years.
Forty-five percent of millennials say a job that accelerates their professional or career development is “very important” to them, compared to 31 percent of Gen Xers and 18 percent of baby boomers.
Nearly one in five U.S. adults (46.6 million) live with a mental illness.
of under 40 workers
of workers over 40
Ninety-six percent of millennials say they take benefits into account when applying for a job.
Here are the benefits millennials ranked as most valuable:
Forty-seven percent of Gen Zers admit to texting during meetings, compared to 30 percent of millennials and only 22 percent of baby boomers.
Plus, millennials are more than twice as likely as baby boomers (49 percent versus 22 percent) to use technology for personal reasons during the workday. Meanwhile, 60 percent of Generation Z and 21 percent of Generation X do the same.
Nearly two-thirds (63 percent) of Gen Zers and about one-half of millennials (52 percent) frequently or sometimes check work email or texts outside of office hours. Only 44 percent of Gen Xers and 38 percent of baby boomers do the same.
Truth is, a majority of managers (53 percent) expect employees to at least occasionally answer work email while on vacation.
Here are the top reasons millennials plan to leave their current organizations in the next two years:
Between 2014 and 2017, the freelance workforce grew three times faster than the U.S. workforce overall (8.1 percent versus. 2.6 percent).
Forty-seven percent of working millennials now say they freelance in some capacity.
Forty-nine percent of freelancers said they preferred the term “the freelance economy” over labels like “gig economy,” the “on-demand economy” or the “sharing economy.”
Top three negatives:
Hard to make plans/plan for the future
Top three attractions:
To earn more money/increase income
To work the hours they want
To achieve better work/life balance
Here are three important takeaways:
If you’re serious about your career, keep reading our 2020 employment and career stats series, including:
The story behind the record-low unemployment numbers. Job seekers say it’s easier than ever to find good work — so easy, they’re even ghosting companies.