A New Understanding of Millennials: Generational Differences Reexamined

The behavior of Millennials has been shaped by two major factors: the Great Recession, which hit them harder than it hit older generations, and explosive growth in student debt.

However, other observed differences in their behavior—differences that set Millennials apart from people of similar age in prior years—largely reflect trends that have impacted all age groups, not just Millennials.

The hallmarks of the American dream, such as cars and homeownership, are more a dream deferred than a dream abandoned for Millennials.

A better understanding of how external factors are affecting the timing of Millennials’ transitions can help employers craft programs to address the needs of this challenging group.