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Millennials

Cohort born from 1981 to 1996

  • 63 min read
  • 15 chapters

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Through Generation Alpha, Internet and Globalization

As children in the late 1980s to 2000s, millennials saw the rise of the Information Age and Internet, being described by some as the first globalized generation. As adolescents and young adults in the late 1990s to 2010s, the generation was marked by a more upbeat youth culture, elevated familiarity with the Internet and technology in general, and usage of early social media platforms such as AOL Instant Messenger, LiveJournal, and Myspace. Between the 1990s and 2010s, people from developing countries became increasingly well-educated technologically, a factor that boosted economic growth in these countries.

Millennials across the world have suffered significant economic disruption since starting their working lives, with many facing high levels of youth unemployment, student debt, and childcare costs in the wake of the Great Recession and the COVID-19 recession. They have been called the "Unluckiest Generation" in the US and other Western countries, as the average millennial has experienced slower economic growth and more recessions since entering the workforce than any other generation in history. Across the globe, millennials and subsequent generations have postponed marriage or living together as a couple. Millennials were born at a time of declining fertility rates around the world, and continue to have fewer children than their predecessors. Those in developing countries will continue to constitute the bulk of global population growth. In developed countries, young people of the 2010s were less inclined to have sex compared to their predecessors when they were the same age. Millennials in the West are less likely to be religious than their predecessors, but may identify as spiritual.

Terminology

Members of this demographic cohort are known as millennials because the oldest became adults around the turn of the millennium. Authors William Strauss and Neil Howe, known for creating the Strauss–Howe generational theory, are widely credited with naming the millennials. They coined the term in 1987, around the time children born in 1982 were entering kindergarten, and the media were first identifying their prospective link to the impending new millennium as the high school graduating class of 2000. They wrote about the cohort in their books Generations: The History of America's Future, 1584 to 2069 (1991) and Millennials Rising: The Next Great Generation (2000).

In August 1993, an Advertising Age editorial coined the phrase Generation Y. It was initially used to refer to younger Gen Xers, but by the late 1990s, the term had become more or less synonymous with Milennials. According to journalist Bruce Horovitz, in 2012, Ad Age "threw in the towel by conceding that Millennials is a better name than Gen Y," and by 2014, a past director of data strategy at Ad Age said to NPR "the Generation Y label was a placeholder until we found out more about them."

Millennials are sometimes called Echo Boomers, due to them often being the offspring of the baby boomers, the increase in birth rates from the early 1980s to mid-1990s, and their generation's large size comparable to that of boomers. In the United States, the echo boom's birth rates peaked in August 1990 and a twentieth-century trend toward smaller families in developed countries continued. Alternative names for this group include the Net Generation, Generation 9/11, Generation Next, Generation Me, and The Burnout Generation.

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