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All eyes on millennials after Census data reveal

millennials census data

(BUSINESS NEWS) Surprising to no one, new data from the Census Bureau shows that millennials are now the largest portion of America’s population.

Act surprised

From boomers to millennials.

For the last few years, it seems that the generations we hear the most about are the baby boomers and the millennials. According to new data, the reason for this is because the boomers and the millennials account for most of the population.

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However, unsurprisingly, the millennials are becoming more and more prominent in the population count, as they have hit the age for ability to make a true impact on the economy. Still, the United States’ older population continues to grow, according to the Census Bureau.

What did the report tell us?

Generational population shift

The compiled data shows that the nation’s median age rose from 35.3 years (as found on April 1, 2000) to 37.9 years (July 1, 2016.) According to a demographer in the Population Division, Peter Borsella, the boomers hold a great deal of responsibility for the trend.

The data found that the states with the highest median age includes: Maine, New Hampshire, Vermont, West Virginia, and Florida. The states with the lowest include: North Dakota, Texas, Alaska, District of Columbia, and Utah.

More numeric factoids

The most common age

In 2011, boomers began turning 65 and will continue to do so for years to come. The number of 65 years olds in America went from 35 million in 2000 to 49.2 million in 2016; a percentage change of 12.4 to 15.2, respectively.

Calculated Risk took the data and determined the most common age, as changed between 2010 and 2016. It shows that the baby boomers were a large percentage in 2010, by 2016 it was the millennials. Below are the most common ages in 2010 and 2016, respectively.

  1. 50 (2010)/ 25 (2016)
  2. 49 (2010)/ 26 (2016)
  3. 20 (2010)/ 24 (2016)
  4. 19 (2010)/ 23 (2016)
  5. 47 (2010)/ 27 (2016)
  6. 47 (2010)/ 22 (2016)
  7. 48 (2010)/ 55 (2016)
  8. 51 (2010)/ 28 (2016)
  9. 18 (2010)/ 21 (2016)
  10. 52 (2010)/ 55 (2016)

So what does this data mean?

We can guess that – with millennials now dominating – we will see a change in the housing market, a continued development in technology and startup companies.

#somanymillenials

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