Today's young adults have the highest level of political and religious disaffiliation of any generation in the last quarter century. The fewer attachments to traditional political and religious institutions. Fifty percent are self described as "political independents", but most vote Democratic.29% have no affiliation with any organized religion. Instead, they connect to personalized networks of friends and colleagues, with an affinity to groups from social and digital media.
Despite the fact that Millennials are more burdened by financial hardships than previous generations, they are more optimistic about their financial future. Higher levels of student loan debt, poverty and unemployment find them with lower levels of wealth and personal income than their two immediate predecessor generations had at the same age. Eight in ten say they currently have enough money to lead the lives they want or expect in the future.
36% of young adults still live at home with their parents. This is the highest share in the last four decades. Since 2007, three million more young adults find themselves still living at home. They owe fewer cars, fewer homes and carry less debt than previous generations.
Millennials are better educated based on levels of completion. In 2012, one third of the nation's 25 to 29 year olds have completed at least a bachelor's degree. 90% finished high school, 63% finish some college and 33% have a bachelor's degree. College completion is now at record levels among key demographic groups: men and women; blacks, whites and Hispanics; foreign-born and native-born Americans.
Singlehood sets Millennials apart from other generations. There is an obvious decline in marriage with only 26% of this generation being married while at the same age other generations had much higher numbers of married couples i.e. . 36 % of Generation Xers (age 34 to 49), 48 % of Baby Boomers (born 1946-1964), and 65% of the Silent Generation (born 1925-1945). The survey indicates that 69% would like to marry, but lack of a solid economic foundation due to lower levels of income and education hinders them.
This generation is the most racially diverse of any generation in American history. Non-white adults are at 43% most likely due to large waves of Hispanic and Asian immigrants coming to the U. S. over the past half century. This diversity may well explain the political liberalism of Millennials. Almost all of them accept interracial dating and marriage. They well may account for the fact that for the first time in four decades polling shows that the majority of Americans favor legalization of the use of marijuana, 52% vs. 45%. Millennials are more open to gay rights (70%) than previous generations. Fourteen per cent of all Americans and 28% of gay marriage supporters say they've changed their minds to being in favor of gay marriage.
This generation is less trusting than older Americans. When asked, only 19% say people can be trusted vs. 31% Generation Xers, 37% Silent Generation and 40% of Boomers. Few Millennials believe that Social Security will provide full benefits at retirement, but 61% oppose cutting benefits. 51% believe they will get no benefits from Social Security, while 39% believe levels will be reduced.
Racially diverse, economically stressed, and politically liberal, these young adults are extremely confident in their future. Hopefully, they will make a difference in the status quo.
Related article:
The Millennials: Understanding Generation Me, The Emerald Quill, October 2013
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