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millennial statsThroughout the years, I’ve collected some of the most interesting primary and secondary research related to the millennial generation (also termed Gen Y). These stats shed lights on how the economy has affected their lives, their values, how they view the workplace, their consumer and investing habits, political views and entrepreneurial spirit. Here is my full list by category:

Millennials and the economy

Millennial values

  • 81% have donated money, goods or services. [Walden University and Harris Interactive]
  • 75% see themselves as authentic and are not willing to compromise their family and personal values. [Bentley University's Center For Women And Business]
  • On track to become the most educated generation in American history. [Pew Research]
  • 61% of millennials are worried about the state of the world and feel personally responsible to make a difference. [Huffington Post]
  • 65% of Millennials say losing their phone or computer would have a greater negative impact on their daily routine than losing their car. [Zipcar]
  • 44% of Millennials say that marriage is becoming obsolete, compared to 35% of Boomers who feel the same way. [Pew Researh]
  • 39% of Millennials have a tattoo. [Pew Research]
  • 33% of Millennials live in cities and 14% live in rural environments. [Pew Research]
  • More tolerant of races and groups than older generations (47% vs. 19%), with 45% agreeing with preferential treatment to improve the position of minorities. [US Chamber of Commerce]

Millennials as employees

  • By next year, millennials will account for 36% of the U.S. workforce and by 2025, they will account for 75% of the global workplace. [U.S. Bureau of Labor Statistics / The Business and Professional Women's Foundation]
  • 41% of millennials do what their managers tell them to do, which is greater than older generations. [Strategy+Business]
  • 84% say that helping to make a positive difference in the world is more important than professional recognition. [Bentley University's Center For Women And Business]
  • Millennials say they do not deserve special treatment and are equally as committed as non-Millennials. [PwC]
  • 92% believe that business success should be measured by more than profit. [Deloitte]
  • Millennial employees have about the same level of organizational commitment as boomers and Gen Xers. [Strategy+Business]
  • 40% of Millennials think that blogging about workplace issues is acceptable. Compared to 28% of Boomers. [Iconoculture]
  • 29% of Millennial workers think work meetings to decide on a course of action are very efficient. Compared to 45% of Boomers [Iconoculture 2011]
  • 80% of Gen Y said they prefer on-the-spot recognition over formal reviews, and feel that this is imperative for their growth and understanding of a job. [Achievers and Experience Inc.]
  • 70% have “friended” their managers and/or co-workers on Facebook. [Cisco]
  • 71% don’t always obey social media policie at work. [Cisco]
  • Connected to an average of 16 co-workers on Facebook [Millennial Branding / Identified.com]
  • It costs an average of $24,000 to replace each Gen Y employee. [Millennial Branding / Beyond.com]
  • 15% of Gen Y’s are already managers. [Millennial Branding / PayScale]
  • 56% of Gen Y’s won’t work at a company if they ban social media access. [Cisco]
  • 69% believe office attendance is unecessary on a regular basis. [Cisco]
  • Average tenure for Gen Y is 2 years (5 for Gen X and 7 for Baby Boomers). [Millennial Branding / PayScale]

Millennials as entrepreneurs

Millennials as consumers

  • By 2015, their annual spending is expected to be $2.45 trillion and by 2018, they will exclipse boomers in spending power at $3.39 trillion. [Oracle]
  • 63% stay updated on brands through social networks. [Ipsos]
  • 46% count on social media when buying online, but 55% of Gen Y share bad experiences. [YouGov]
  • 41% of millennials have no landline at home and rely on their cellphones for communication. [Pew Social Trends]
  • 48% of Millennials who say word-of-mouth influences their product purchases more than TV ads. Only 17% said a TV ad prompted them to buy. [Intrepid]
  • 41% of Millennials have made a purchase using their smartphone. [Edelman Digital]
  • 32% of Millennials say they don’t like advertising in general, compared to 37% of the general population. [Experian Simmon]
  • 43% have liked more than 20 brands on Facebook. [Mr. Youth]
  • 77% participate in loyalty reward programs. [Aimia]
  • 44% are willing to promote products or services through social media in exchange for rewards. [Aimia]
  • More engaged in activies like rating products and services than older generations (60% vs 46%). [BCG]
  • 84% report that user generated content on company websites at least somewhat influences what they buy [Bazaarvoice]

Millennials as investors

  • 46% count on social media when buying online, but 55% of Gen Y share bad experiences. [YouGov
  • 43% of millennial respondents described themselves as “conservative” investor. [Accenture]
  • Gen Y is nearly 10% of all affluent investors in the U.S. [Cogent Research]
  • 84% of Gen Y are seeking advice about finance. [Merrill Lynch]
  • 57% will change financial advisors for a tech setting. [WealthManagement.com]
  • 61% want video meetings with advisors. [WealthManagement.com]

Millennials in politics

  • They elected our president – 60% voted for Obama in 2012, 66% in 2008 [Pew Research / Huffington Post]
  • Millennials will be 40% of the electorate by 2020. [The Center for American Progress]
  • 41% satisfied with the way things are going in the country. [Pew Research]
  • In 2008, 48 million millennials (those born between 1978 and 2000) were eligible to vote, and 25 million actually did. [The Atlantic]
  • Younger Americans are most progressive (56.6) on cultural and social values and the least progressive on economic and domestic policy (53.1). [American Progress]
  • 42%  believe that “our current economic problems show what happens when you rely too much on the market and reduce regulations on corporations. [American Progress]
  • 48% believe that their parents most influence their vote (aside from themselves). [Millennial Branding / Internships.com]
  • 58% said they would be following the 2012 election on social networks like Twitter and Facebook. [Millennial Branding / Internships.com]

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26 Responses to 74 Of The Most Interesting Facts About The Millennial Generation

  1. Phil says:

    “Millennials have already saved an average of $55,000 for retirement. [Merrill Lynch]“. This seems to be out of place when looking all the other numbers about school debt, minimum wage numbers, part time employment numbers, millennials that have moved back in with parents, etc.

    • Dan Schawbel says:

      Thanks for the feedback, it has been removed.

      • I don’t believe that stat above to be out of place. As a millennial almost all of the above apply, although I do have my own apartment. Considering I don’t expect social security to be around when I’m older, I have opted for an aggressive 401K. That being said, I still have large amounts of students loans. Food for thought.

  2. Gadi says:

    What do you define as a “Millennial”? Born between 1977-1990? 1980-2000?

    • Dan Schawbel says:

      Born between 1982 and 1993.

      • Lisa Spencer says:

        I am perplexed. If this cohort only spans 11 years, how can it be this high a proportion of the workforce?: (from list above)
        ‘By next year, millennials will account for 36% of the U.S. workforce and by 2025, they will account for 75% of the global workplace’

  3. Angela P says:

    Fantastic article and well researched. It is mind blowing to even consider the extent to which social media and internet inform us today, and particularly how it has shaped the way Gen Y’s (someone believing it is as necessary as food and water!). I am of course curious to see what takes over from text messaging as the next wave of preferred communication for our future babes of the world.

  4. [...] 74 of the Most Interesting Facts About the Millennial Generation: These stats shed light on how the economy has affected their lives, their values, how they view the workplace, their consumer and investing habits, political views, and entrepreneurial spirit. Read more. [...]

  5. John G says:

    Great list you put together here Dan. I was surprised to see that only 41% of those in our Gen Y cohort made purchases using their smartphone. Given the continuing ease of use, flexibility and convergence between retailers and financial institutions I’m sure this number will increase significantly as time goes on. By the way I’m a new reader to your blog and will be subscribing.

  6. [...] Also known as Generation Y, the Millennial generation is made up of approximately 80 million Americans born from the early 1980s through the early 2000s. Millennials account for 75 percent of the global workforce, and by 2015, their annual spending is expected to be $2.45 trillion. In 2018, they will eclipse boomers in spending power at $3.39 trillion.* [...]

  7. [...] provides 74 stats about the millennial generation ranging from work, attitudes and behaviors. Dan Schwabel, June [...]

  8. Chris Conrey says:

    How can they have a 16.3% unemployment rate and still have 6 of ten employed (half part time) in the first section. Seems like your math is off there.

    • Riley says:

      The official unemployment rate only includes people who are actively looking for work. Depending on the cutoff used, many millennials are still in school of some form.

  9. [...] just because he’s in that age range, but because he’s studied the impacts, tracks the trends, and eloquently speaks on TV about millennials in the workforce.  I’ve been talking to Dan, [...]

  10. [...] what would more money in the hands of the younger generation look like? In 2012 there were 284,000 college graduates working minimum wage jobs. If their wages were to increase by $3/hour, given the materialistic tendencies of these workers, [...]

  11. [...] All stats included within this blog post can be found at this link with their correct sources. [...]

  12. [...] personal web blog post provides over 70 numerical trends and statistics about the Millenial generation. It provides them [...]

  13. [...] if you look at some of these statistics about millennials, compiled by Dan Schawbel, you’ll see that they have very strong values and are very committed to living a balanced [...]

  14. [...] – Provide recognition early and often.  80% of Millennials prefer immediate recognition over traditional performance reviews. And by [...]

  15. [...] if you look at some of these statistics about millennials, compiled by Dan Schawbel, you’ll see that they have very strong values and are very committed to living a balanced life [...]

  16. [...] a good chance that you can reach Gen Y’ers on the digital sphere since, according to Dan Schawbel’s research, 41% of Millennials have made a purchase using their smartphone, 63% stay updated on brands through [...]

  17. [...] the economy and has grown exponentially in regards to buying power and brand influence.  Last year, 88 percent of Millennials were confident they would find a job despite economic instabilities.  That optimism [...]

  18. [...] mayores. Entre las clases medias el funcionariado parece erosionarse como ideal laboral en favor de trabajos más creativos aunque menos seguros y no siempre bien remunerados. No hay conferencista que no acompañe la palabra «economía» con frases tranquilizadoras para su [...]

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