REPORT: 15 Economic Facts About Millennials

In October of 2014, the President’s Council of Economic Advisers published 15 Economic Facts About Millennials, which takes a look at the impact the millennial generation has now and in the future on the economy.

Introductory note (page 3):

 Millennials are also the generation that will shape our economy for decades to come, and no one understands that more that the President. It’s why he has put in place policies to address the various challenges their generation faces. This includes policies such as: making student loan payments more affordable; promoting digital literacy and innovation; pushing for equal pay and paycheck fairness; supporting investments and policies that create better-paying jobs; connecting more Americans to job training and skills programs that prepare them for in-demand jobs; supporting access to credit for those who want to buy a home; and increasing access to affordable health care. And it’s why the President will continue to act with Congress and on his own where he can to build on this progress to expand opportunity for Millennials and all Americans.

The Facts

  1. Millennials are now the largest, most diverse generation in the U.S. population
  2. Millennials have been shaped by technology
  3. Millennials value community, family, and creativity in their work
  4. Millennials have invested in human capital more than previous generations
  5. College-going Millennials are more likely to study social science and applied fields
  6. As college enrollments grow, more students rely on loans to pay for post-secondary education
  7. Millennials are more likely to focus exclusively on studies instead of combining school and work
  8. As a result of the Affordable Care Act, Millennials are much more likely to have health insurance coverage during their young adult years
  9. Millennials will contend with the effects of starting their careers during a historic downturn for years to come
  10. Investments in human capital are likely to have a substantial payoff for Millennials
  11. Working Millennials are staying with their early-career employers longer
  12. Millennial women have more labor market equality than previous generations
  13. Millennials tend to get married later than previous generations
  14. Millennials are less likely to be homeowners than young adults in previous generations
  15. College-educated Millennials have moved into urban areas faster than their less educated peers

Read the full report here!



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