Millennials are taking over your office.
More than one in three (35 percent) working Americans are millennials, eclipsing other generations in the labor force, according to a Pew Research Center analysis of US Census Bureau data. The organization defines millennials as the generation aged 21 to 36 in 2017.
In 2017, 56 million millennials were working or looking for a job — outnumbering 53 million Gen Xers, who made up 33 percent of the labor force and 41 million Baby Boomers, who accounted for 25 percent of the total. Gen X (those born from 1961 to 1981) was down from its peak of 54 million workers in 2008, a decline that simply reflects a drop in the overall number of Gen X adults, according to the study. And while Baby Boomers made up the majority of the labor force in the 1980s, their numbers are declining as more and more of those born between 1946 and 1964 retire.
Millennials — the generation loosely defined those born after 1981 through 1996 — have gotten a bad rap for supposedly being unprepared, entitled and overly reliant on their parents. But research shows that they make ideal employees: A study from ManPowerGroup found that millennials are working harder than other generations, putting in more than 45 hours per week, with 21 percent taking on another job to make ends meet. And 66 percent of people in that age group are expected to work past age 65, with 12 percent saying they likely would never retire. What’s more, millennials are less likely to use all of their paid time off, according to ProjectTimeOff.com.
Millennials are also more likely to take on work that is meaningful to them. The so-called “purpose over paycheck” generation tends to blur work and life together, often checking emails and remaining “on” during after-work hours, reports Inc.com.
By Jeanette Settembre, Moneyish