Courtesy Everett Collection The ‘post-millennial’ generation is now age 6 to 21.
Kids these days are unlike any America’s ever seen before.
The post-millennial set, now ages 6 to 21, is poised to be the most diverse, most-educated generation yet, and is growing up amid the biggest average household incomes ever, the Pew Research Center concluded.
The generation, given labels like “Generation Z” and “the iGen,” is also largely growing up in cities and suburbs and working less than previous generations, the study noted in its analysis of U.S. Census Bureau data.
Some key things to know about this group:
• Non-Hispanic whites will account for 52% of the demographic, and a mix of minorities account for the other 48%. It’s becoming more diverse: in 2002, whites made up 61% of the group, while minorities comprised 39%.
• Of the portion no longer attending high school, 59% were enrolled in college last year. That’s a jump from the 53% college enrollment rate among millennials in 2002 and an even bigger jump from the 44% of Gen Xers in 1986.
• The average post-millennial now lives in a household making $63,700 yearly, adjusted for household size. Factoring in inflation, the generation before them lived in households making $62,400.
• Just 13% are growing up in rural areas, reflecting a steady ongoing flow to metropolitan areas. For comparison, 36% of the early baby boomer generation lived in the countryside.
• 58% of the post-millennials’ aged 18 to 21 worked in the last calendar year, down from the 72% rate in 2002. And for those post-millennials that did have a job, it was in all likelihood a part-time gig. Increased education could be one factor, one of the study’s authors told MarketWatch.
The study, released Thursday, is a preview of the country’s changing demographics as this young generation’s parents, millennials, move into their peak earning and working years while grappling with challenges like student debt, investing for their future and striking a work-life balance.
In a number of ways — but not all — the survey shows generation trends already on display.
For example, the study reveals the march to metropolitan areas and the rising prevalence of college education. But it also said 12% of post-millennial Hispanics were born outside the U.S., compared with the 24% of millennial Hispanics.
Richard Fry, senior economist with the Pew Research Center, said he was initially struck by the immigration declines, but then remembered the Great Recession’s onset drastically cut jobs and affected immigration after a 2005 peak.
“When immigrants aren’t coming, they aren’t bringing their children with them,” the study author said.
Fry was also surprised by just how many post-millennials were surrounded by college-educated parents. More than a quarter had at least one parent with higher education under their belt, compared to the less than one-third of millennials who grew up under the same circumstances.
The post-millennials could have a bright future, Fry said. “The fact it’s looking like more will finish college, I think will serve them well,” he said, in terms of potential earning power and personal choices, like whom they select as a mate for settling down.
“I think that’s a good omen for them,” he said.
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