Practicality and Frugality Become Key Once Baby Is Born
Millennials have been discussed ad nauseum as being a generation different from its predecessors — one that’s entitled, tech-savvy, style-driven, health-conscious and unattached.
But one new study suggests that not only are those designations misleading, they’re downright false, especially for the older cohort of millennials, ages 25 to 34, half of which are parents.
The study, called “Millennials as New Parents,” conducted by Kansas-City, Mo.-based indie agencyBarkley, also suggests that millennials really aren’t different from the generations before them (and that they’re not as well educated as they’ve been made out to be).
- 63% of millennial parents ages 25 to 34 are married.
- 40% of millennials ages 25 to 34 are already parents.
- 9,000 millennial women a day are giving birth — many for the first time.
- In the next 10 to 15 years, 80% of millenials will be parents.
- Half of all millennial parents in the 25-to-34 age group are Hispanic, African-American, Asian, or another non-Caucasian race.
For one, millennials are much more pragmatic than they’re given credit for, said David Gutting, VP-strategy director at Barkley, adding that events like the recession and resulting high unemployment rates have reshaped how they behave as they begin to form families.”But we [still] look at them like they’re kids.”
According to the study, 40% of all millennials ages 18 to 34 are already parents, and 9,000 millennial women a day are giving birth, many for the first time. In the next 10 to 15 years, 80% of them will be parents. The study also found that half of all millennial parents in the 25-to-34 age group are Hispanic, African-American, Asian, or another non-Caucasian race. In the millennials ages 25-to-34 group, there are roughly 10.8 million households with children now.