How Many Millennials Are There

How Many Millennials Are There in 2024? (U.S. & World)

Published on: December 3, 2023
Last Updated: December 3, 2023

How Many Millennials Are There in 2024? (U.S. & World)

Published on: December 3, 2023
Last Updated: December 3, 2023

Millennials are the last generation to be brought up without the internet as a daily feature in their lives.

However, later millennials may have become accustomed to tablets and other internet-connected devices. 

As such, they are the first generation to use computers daily and have seen the world of work change dramatically. 

Of course, with a 16-year age gap between the oldest and youngest millennials, and the rapid changes in digital technology, it’s not unusual for a young millennial to feel more like Generation Z. 

Let’s take a look at some of the facts surrounding how many millennials are there.

Key Statistics

  • There are 72.2 million millennials in the US
  • There’s an estimated 1.8 billion millennials worldwide
  • Millennials are more educated than  other generations
  • 71% of millennial women have jobs
  • Millennials average a household income of $96,581 in the US
  • 77% of millennials will respond to a diverse marketing campaign
  • Millennials, with generation x, are half of Facebook’s user base
  • 94.4 m of millennials have a smartphone
  • 86% of millennials are considered digital buyers
  • 65% of unmarried millennials would like to get married one day

How Many Millennials Are There in 2024?

Millennials 414

1. There Are 72.2 Million Millennials In The US

Millennials were born between 1980 and 1996.

According to Pew Research, that means there are 72.2 million Millennials in the US. 

That’s the equivalent of 21.7% of the population and, since 2019, the largest generation in existence. 

Generation Z actually takes the second spot with 69.6 million and boomers take the third spot with 68.6 million. That’s 20.6% of the US population. 

Interestingly, the silent generation, born between 1928-1945, still consists of 18.3 million people, that’s 5.5% of the population. 

The latest Pew research also revealed that the number of people older than 100 has been growing steadily for years.

However, this number declined for the first time in 2020 by 7,000 and a further 9,000 in 2021.

It’s likely that this decline was connected to the global pandemic. 

(Pew Research)

2. There’s An Estimated 1.8 Billion Millennials Worldwide

According to the latest study by the World Economic Forum, there are approximately 1.8 billion millennials on the planet.

That’s roughly 23% of the global population. 

The majority of these are in Asia, which is said to have 1.1 billion millennials, significantly more than the rest of the world combined.

Africa has 278 million millennials and Latin America has another 155 million.

There are roughly 148 million in Europe and 76 million in North America.

The list is finished by Oceania, with just 9 million millennials. 

What these figures don’t show is what percentage of the population millennials are.

Surprisingly, the percentages are similar across all continents. 

Millennials in Asia represent 24% of the population, in Africa 21%, and in Latin America 23%.

It’s similar in Europe with 20%, North America with 21%, and even Oceania has 22%.

In short, the number of millennials in different parts of the world may change dramatically, but the percentage of the population remains roughly the same. 

(WE Forum)

3. Millennials Are More Educated Than  Other Generations

Millennials 415

Millennials have been brought up in a peaceful and prosperous time.

This has allowed governments and individuals to invest more in education and social services. 

The difference is noticeable, both in terms of education levels and the fact women have generally achieved higher education levels than men.

The statistics show that 51% of women and 42% of men in the US have been educated past secondary education. 

The trend continues elsewhere, in Europe it’s 46% of women to 36% of men, and in Oceania it’s 44% of women and 37% of men. 

Even the less-developed nations are showing the same results.

Asia is the only place where men and women are equal achievers, 21% of both sexes have achieved higher than secondary education. 

Africa is the only region where men beat women, enjoying an education level of above secondary by 13% of men and 10% of women. 

(WE Forum)

4. 71% Of Millennial Women Have Jobs

This statistic illustrates the huge difference between millennial women and those of the silent generation.  

Today, it is common for women to enter the world of work and rise through the ranks.

This is part of the reason why many women are choosing to have families later in life. 

As of the latest research, an impressive 71% of young millennial women are successfully employed.

A further 26% have chosen not to be part of the labor force, leaving just 3% undecided or looking for work. 

Their work careers are boosted by higher levels of education. It’s estimated millennial women are 36% more likely to have a bachelor’s degree. 

What is also interesting is their approach to work.

According to the latest research, a staggering 77% of millennials would be prepared to take a pay cut in exchange for job security. 

(comparecamp)

5. Millennials Average A Household Income Of $96,581 In The US

The most recently published reports show that households led by those aged between 25 and 34 have an average income of $74,082.

That’s surprisingly close to the US household average of $78,635.

Interestingly, households headed by those aged between 35-44 average $96,581.

Some millennials fall into this group, the rest are Generation X. 

This statistic illustrates how close millennials are to average figures.

At the same time, it backs up earnings increase as you age. 

It’s worth noting that the older millennials entered the job market when unemployment was rising and wages were heading down.

That may be while they are more interested in job security. 

This generation is the one that is most likely to face wealth problems in old age.

They earn the money to create a good life today but not enough to save for the future. 

(Bureau Of Labor Statistics)

6. 77% Of Millennials Will Respond To A Diverse Marketing Campaign

Millennials 416

Millennials are perhaps the most accommodating of all generations.

Recent research shows they are more likely to respond to an advertising campaign if it’s diverse 

Millennials tend to be a more diverse mixture of people as they are more aware and tolerant of people with disabilities, different races, and even the LGBRQ community. 

This is displayed in their responses to marketing campaigns.

A recent study found that 77% of millennials would be inclined to purchase a product or take some action after seeing an ad they perceived to be either diverse or inclusive.  

That’s significantly higher than 64% of the general population.

Interestingly, only teens came close to millennials for supporting diversity and inclusiveness. They had a 76% response rate. 

(Insider Intelligence)

7. Millennials, With Generation X, Are Half Of Facebook’s User Base

Millennials are less likely to adopt the latest technology on a whim.

They won’t always upgrade a device because a newer one has arrived on the market. 

In short, they like familiar devices and will only upgrade them when they see the advantages of doing so.

However, that doesn’t mean millennials are against using technology.

The latest figures show that millennials and Generation X make up at least half of the users on Facebook in the US. 

It’s also worth noting that they will generally prefer to use Instagram instead of TikTok or Snapchat.  

(Insider Intelligence)

8. 94.4M Of Millennials Have A Smartphone

Current estimates suggest that all millennials have access to a cell phone.

In the US, 94.4% of millennials are using smartphones, although they are not committed to upgrading them every year. 

With such a high number of smartphone users, there is little room for growth in this figure.

It is worth noting that 35% of millennials state they would find it very hard to survive a week without a smartphone.

This gives you an idea of what level of addiction there is.

A fact backed up by the low uptake of smart wearables by this generation. 

At present, just 37% of millennials have smart wearable devices. 

Many millennials are struggling with over-reliance on their phones.

The latest figures show 63% of them have tried to reduce the number of tasks they do daily with their smartphone.

(Insider Intelligence)

9. 86% Of Millennials Are Considered Digital Buyers

The world is becoming increasingly digital and millennials have embraced these changes.

One of the biggest changes for this generation is the ability to purchase things online and via other digital methods. 

This has become a popular option for millennials, with 86% of them buying things digitally in 2020. 

Of course, this figure may have been worse than normal due to the pandemic.

However, the support of digital purchasing by millennials doesn’t appear to be wavering. 

It’s also worth noting that millennials are 40% of the Buy Now Pay Later (BNPL) schemes.

The figures show this was the case for 2021 and the figures aren’t likely to significantly change between now and 2025. 

As well as being prepared to purchase items digitally, millennials are likely to look at what rewards and loyalty bonuses/plans a business offers.

They believe this is an important part of making a purchasing decision. 

(Insider Intelligence)

10. 65% Of Unmarried Millennials Would Like To Get Married One Day

Married 419

Marriage is decidedly less popular today than it was in the times of the silent generation, when nearly everyone got married. 

However, that doesn’t mean marriage is off the books.

As many as 65% of unmarried millennials want to be married one day. 

In many cases, they haven’t tied the knot as they haven’t found the right person.

It’s estimated this happens in 26% of cases.

Potentially a bigger issue is that in 29% of cases, marriage is off the table because they don’t have the necessary finances. 

Of course, for 26% of unmarried millennials, they are simply not ready to settle down yet. 

It is worth noting that 44% of millennials are unsure about having children.

This indecision allows them to defer marriage and other standard family issues. 

(Comparecamp)

Summing Up

How many millennials are there?

A lot! They are now the biggest generation and, as such, have significant economic and political clout. 

However, as a generation, they are very different from previous ones.

Millennials live in a digital world where technology is constantly changing.

This generation supports advancements in technology and generally feels this outweighs any associated risks. 

They are more likely to live at home for longer and less inclined to worry about their job.

Reports show that most millennials feel they could easily get another job, the same or better. 

Interestingly, millennials are more concerned with having a positive impact on society compared to starting a family.

The number of millennials will eventually decline.

However, for the foreseeable future, they will be the largest generation.

That means they will continue to have significant economic and political power. Those in charge would do well to remember this. 

Sources

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Written by Kelly Indah

I’m a statistics researcher here at EarthWeb with a special interest in privacy, tech, diversity, equality and human rights. I have a master’s degree in Computer Science and I have my Certified Information Systems Security Professional (CISSP) certification.