Just as The Center receives many questions about what to call Millennials (they are interchangeably called Millennials and Gen Y), we’re often asked about the size of the Millennial generation. The answer: it’s huge!
According to the U.S. Census, there are 83.5 million Millennials in the United States, and updated figures suggest that this number is even larger. Data collected by the Census Bureau between April 2010 and July 2014 suggests that the Millennial population has surpassed that of the Baby Boomers, who still represent a significant 75.4 million. This means that Millennials are now the largest generation represented in the U.S.
The data also reflects the increasing diversity of the American population, with 44.2 percent of Millennials being part of a minority race or ethnic group, more than double that of the 65-and-older population. Increasing diversity is likely to continue with Gen Z, the generation after Millennials. According to a Census Bureau release, Americans aged 5 and under recently became a majority-minority group for the first time (at 50.2 percent).
How will the large number of Millennial employees affect your workplace? Do you think multi-generational teams are more effective? Why or why not? Tweet us with your thoughts @whatthegen and @jasondorsey