Posted: 09 May 2011 at 10:56am | IP Logged
Credit goes to Wikipedia
Generation Y, also known as the Millennial Generation (or Millennials),Generation Next, Net Generation,Echo Boomers, describes the demographic cohort following Generation X. As there are no precise dates for when the Millennial generation starts and ends, commentators have used birth dates ranging somewhere from the mid-1970s to the early 2000s. Members of this generation are called Echo Boomers, due to the significant increase in birth rates through the 1980s and into the 1990s, and because many of them are children of baby boomers. The 20th century trend toward smaller families in developed countries continued,however, so the relative impact of the "baby boom echo" was generally less pronounced than the original boom.
Characteristics of the generation vary by region, depending on social and economic conditions. However, it is generally marked by an increased use and familiarity with communications, media, and digital technologies. In most parts of the world its upbringing was marked by an increase in a neoliberal approach to politics and economics.The effects of this environment are disputed.
Experts differ on the actual start date of Generation Y. Some sources use starting dates as early as 1976. Other sources use 1978, 1980, or 1982. And while 1982 is a fairly common start date, some sources use even later dates.Sources citing 1982 mark the end the generation either in the mid-1990s or the early 2000s, with 1982-1995 and 1982-2000 as common ranges.Today, there are approximately 80 million Echo Boomers.
This generation is also sometimes referred to as the Boomerang Generation or Peter Pan Generation, because of the members' perceived penchant for delaying some rites of passage into adulthood, longer periods than most generations before them. These labels were also a reference to a trend toward members living with their parents for longer than previous generations.
The primary cause of this increased trend can be defined in economic terms.Economic crises, including the dot-com bubble in 2000, and the United States housing bubble that led to the current financial crisis have made paying market-level rent, or any rent, difficult for a generation riddled with high unemployment levels.
However, economics is not the only explanation. Questions regarding a clear definition of what it means to be an adult also impacts a debate about delayed transitions into adulthood. For instance, one study by professors at Brigham Young University found that college students are more likely now to define "adult" based on certain personal abilities and characteristics rather than more traditional "rite of passage" events.Dr. Larry Nelson, one of the three Marriage, Family, and Human Development professors to perform the study, also noted that some Millennials are delaying the transition from childhood to adulthood as a response to mistakes made by their parents. "In prior generations, you get married and you start a career and you do that immediately. What young people today are seeing is that approach has led to divorces, to people unhappy with their careers ... The majority want to get married [...] they just want to do it right the first time, the same thing with their careers."
Pairing with the economic situation which Generation Y is starting up in, jobs are simply taken by the Baby Boomers and Generation X. The need to keep working and the aging work-force keep members of Generation Y less employed than any other generation before them. This is not due to a lack of seizing the rites of passage, as they are more educated than most that came before them.
Generation Z or "Net Generation" is a common name for the generation of people born between the early 1990s and the early 2000s.
As the most recent generation, the earliest birth year commonly noted is 1991. Generally speaking, these people are born after the fall of the Soviet Union and the dawn of the World Wide Web. More generally, some of the oldest members of this generation were born at the end of the "Echo Boom", which ended during the time of the Gulf War, while the youngest of the generation were born during a baby boomlet around the time of the Global financial crisis of the late 2000s decade, ending around the year 2010, with the next unnamed generation succeeding.
Members of Generation Z are typically the children of Generation X; their parents may also include the youngest Baby Boomers as well as older members of Generation Y.
Edited by iheartChai - 09 May 2011 at 11:00am