People born between 1977 and 1995 are called Millennials, and they belong to the 23 to 38 age group, forming about 50% of the global workforce. Tech-savvy and flexible, Millennials in the workplace get easily frustrated by mundane tasks.
These individuals prefer remote work and demand frequent meetings with their managers. They don’t seem overly loyal to their companies and are open to changing jobs.
When compared to Generation X and Baby Boomers, those from the 23 to 38 age group seem to have it worse. Millennial households make less money on average and often have long working hours.
We have handpicked the most important stats to help you better understand workers from this generation. Discover the average yearly earnings of employed Millennials in the US and learn the main issues they face.
Millennials in the Workplace Facts and Statistics (Editor’s Choice)
- Millennials account for 35% of the global workforce in 2020
- 42% of all Millennials admit to being stressed out all the time
- 75% of millennial workers want to work from home or remotely
- 16% of young millennials work 51 hours or more per week
- A whopping 64% have set clear long-term financial goals
- Millennials in the US work about 45 hours per week
- Money is a top priority to 92% of millennials who are looking for a job
- 73% of millennials are full-time employees
General Millennials in the Workforce Stats
1. 35% of millennials in the US plan to retire before the age of 65.
In 2016, 35% of the US millennials expressed hopes to retire before the age of 65. The age of 65 seemed a perfect retirement age to 25% of the millennials, while 30% said they plan to retire after that age. Only 10% of millennials had no intentions to retire.
2. By 2025, millennials will represent 75% of the global workforce.
Research from Alliance Virtual Offices about millennials in the workplace research shows that millennials will form about 75% of the global workforce by 2025. Moreover, in 2017, approximately 35% of the US workforce was represented by millennials.
These stats show that millennials are slowly taking over the global workforce. At the same time, they highlight the importance of employers preparing for the changes they bring with them.
3. By 2030, millennials will make up around 75% of the American workforce.
Have you ever wondered how many millennials are in the workforce in the US? As older generations retire, it comes naturally for millennials to take over the market and the economy. Statistics project that 75% of the American workforce will be formed by those born between 1981–1996 by 2030. There’s no need to worry, though. This generation is working more than any other generation and has excellent qualifications.
4. Millennials comprised about 35% of the American workforce in 2016.
Millennials have been the largest generation in the US labor force ever since 2016. A graph presented by the Pew Research Center shows that there was about 35 percent of millennials in the workforce in America in 2016. More precisely, around 54 million workers in 2016 belonged to this age group. They took over the reign from Gen X workers, whose count at the time was 53 million.
Millennials, as opposed to Gen X, noted an upward moving trend in terms of their number in the American workforce. In 2017, there were 56 million of them, while the number of Gen X employees remained at 53 million. So the percentage of generations in the workforce for 2019 is expected to highlight an even bigger difference between these two. The Baby boomers’ participation has been declining ever since the 2000s.
5. 55% of millennials are not engaged in their job.
When it comes to being behaviorally and emotionally connected to their company and job in general, millennials feel mostly disengaged. More precisely, only 29% of employed individuals from this generation feel engaged in their job.
In contrast, millennials in the workplace statistics reveal that 16% feel actively disengaged, and 55% are not engaged at all. Therefore, the biggest mistake employers and organizations make regarding millennials is failing to properly engage them.
6. 21% of millennials have changed jobs within the past year.
Those born between 1981–1996 aren’t afraid to change jobs. On the contrary, about 21% of millennials have changed jobs within the past year. This percentage is three times higher than the percentage of non-millennials who made the same move. Moreover, millennial statistics show that 36% of these employees are willing to change their job for a better offer.
7. About 50% of millennials plan to stay at their current company.
When compared to 60% of non-millennials who plan to keep their current job, millennials show lower rates of loyalty too. Only half of the individuals born between 1981–1996 see themselves in their current company one year from now. Plus, millennial workforce trends reveal that 60% of millennials are open to new job opportunities.
8. 44% of millennials claim that regular meetings with their manager keep them engaged.
Millennials value the relationship they have with their managers more than any other generation. In fact, 44% of employed persons from this generation admitted to feeling engaged when their manager has regular meetings with them.
Only 20% claimed that manager meetings don’t keep them engaged in their job. However, only a small percentage of millennials in the workforce (21%) reported having weekly meetings with their managers.
9. 75% of millennials prefer working from home and working remotely.
The days of staying for hours at the office are over. In fact, 75% of millennials prefer working from home and working remotely. Individuals from this age group appreciate their freedom and independence. They also respect flexibility and employer/employee trust. Considering that experts project millennials to compose 75% of the workforce by 2025, remote work may overpower office work soon.
10. The average unemployment rate for this group during 2000–2018 was 12.8%.
Several Advisor Perspectives 2018 charts reveal that millennials had the highest average unemployment rate during the period between 2000–2018. Their respective average jobless rate was 12.8%. In contrast, the other age groups had a combined average unemployment rate of much lower 4.8%.
11. 16% of millennials work 51 hours or more per week.
Despite looking for remote work and flexibility, millennials seem to be putting in long working hours. Namely, the latest millennials in the workforce 2019 polls show that 16% of them work 51 hours or more per week. Among those aged 25-34, 75% reported working between 31-50 hours a week. Americans from the 25-34 age group spend about 4.93 hours per day working or on work-related activities.
12. 61% of millennial women take a break from work due to the birth of their child.
Millennial men and women have different priorities. While 61% of females take a break from work due to the birth of their child, only 32% of males do the same. Additionally, millennials in the workplace statistics for 2018 reveal that 33% of women put their careers on hold for childcare. Only 20% of men would take a break from work for childcare.
13. Globally, work/life balance remains a top priority to millennials.
Latest studies signal that work/life balance remains a top priority to millennials worldwide. A significant 95% of millennial workers find work/life balance important, and 70% consider it very important. Individuals from this generation appreciate having time for themselves and time to spend with their family. Traveling and relaxation are also highly desired.
Main Problems with Millennials in the Workplace
14. The US economy annually suffers $30.5 billion due to millennial turnover.
Stats show that the US economy annually suffers about $30.5 billion because of millennial workers. More precisely, due to their turnover that comes from a lack of engagement in the workplace. Employees from this generation are constantly looking for new opportunities and rarely feel loyal to their current employers. According to experts, changing jobs frequently is among the most significant bad habits of millennials.
15. Only 28% of employed millennials would stay at their current job beyond five years.
Job hopping is common among millennial workers, who always strive for something better. In fact, only 28% of them see themselves at their current company beyond five years. In comparison, 43% said that they envision leaving their company within two years. As a result, keeping and managing millennials in the workplace is becoming harder by the day.
16. 38% of younger millennials find searching for documents frustrating.
Millennials, especially the younger ones, are easily frustrated by mundane work tasks. In the latest Landscape study, 38% of those aged 18–24 reported being frustrated with wasting time searching for documents. In contrast, 28% of all participants felt the same.
Moreover, 33% of the people from that age group dislikes figuring out who has information about a task or a project. Trying to find the contact details of coworkers was frustrating to 28% of them. Therefore, unwillingness to complete mundane tasks is another problem with hiring millennials employers will have to learn to deal with.
17. Only 55% of millennials believe that business positively impacts society.
In 2019, only 55% of millennials said they believe that business positively impacts society. This is a serious drop from 2017 and 2018 when the respective rates were 76% and 61%. Moreover, a significant 26% of millennials expressed trust in business leaders. As a result, managers and employers can often find working with millennials challenging due to their pessimism and lack of dedication.
18. Traveling the world is the highest priority for 57% of millennials.
When asked about their ambitions and priorities, 57% of millennials placed traveling the world highest on the list. Earning a lot of money was a priority to 52% of them, whereas buying a home was important to only 49% of millennials.
With priorities shifting, managers will have to learn how to keep millennials in the workplace by employing new tactics. Money and benefits don’t seem enough to persuade these workers to stay. Instead, they seek flexibility, diversity, inclusion, and trust.
19. 42% of millennial workers use real-time messaging services at work.
Millennials often use social media and messaging services during their working hours. More precisely, 42% of employed millennials admitted to using social media, and that’s identical to the 42% of those who use real-time messaging services. This is another issue most employers have when dealing with millennials in the workplace.
20. Most millennial workers aren’t happy with the technology offered to them by employers.
Millennials are tech-savvy individuals who appreciate smart solutions to all issues. Statistics show that most millennial workers aren’t happy with the technology employers offer to them. Majority of them find alternatives to solutions provided by their company.
About 24%, 22%, and 29% of those aged 21–31 use Dropbox, Google Drive, and iCloud to store work documents, respectively. This is one of the important problems with millennials in the workplace companies face. Namely, using such services without permission often presents security risks. Hence, enterprises tend to put IT restrictions in place to prevent this from happening.
21. About 41% of millennial workers prefer electronic communication.
In the era of Viber, WhatsApp, and Messenger, communicating over the phone and face-to-face are losing popularity. The craze of online communication is especially popular among younger generations, millennials included. In fact, statistics about millennials in the workplace discover that about 41% of them prefer electronic communication. This is another issue for employers who prefer face-to-face meetings with their employees.
Main Workplace Issues Millennials Face
22. Around 40% need a college degree for entry-level jobs.
Stats show that about 40% of millennials looking for a job need a college degree for entry-level openings. As the nation is getting more educated, employers gain access to highly educated candidates to choose from, so they often require a bachelor’s degree or a specific qualification even for the lowest positions.
23. Millennials don’t make enough money.
Low income remains among the top problems millennials face in the workplace. Consequently, they often have side hustles to boost their income. About 28% of employed millennials reported having a side hustle, and 61% of them made extra money on a weekly basis.
Most of them (96%), however, have monthly side hustles. Only 25% of young Americans aged 18-26 make more than $500 per month via a side hustle.
24. Student debt forces them to skip vacations and work more.
Student debt is a $1.5 trillion problem America has. About 40 million people have college debt, and most of them are millennials. So statistics on millennials in the workplace highlight that these workers often skip vacations to work more.
Job and Salary Stats for Millennials
25. Older millennials have an average wage of $84,000 per year.
Stats show that the average annual salary of older millennials is $84,000. In contrast, younger millennials have a much lower income per year of $21,000. The highest salary among Americans aged 38 goes up to $104.900. Such individuals mostly work as physician assistants or physical scientists.
26. Younger millennials rarely make over $30,000 per year.
Younger millennials aged between 21-30 rarely have a yearly income of over $30,000. Just like most millennials statistics for 2018 show, these Americans mostly hold bar tendering or waiter jobs. As a result, most of them make about $21,000 per year. Veterinary assistants, coaches, helpers, and tellers are jobs held by younger Americans with a higher annual salary of around $30,000.
27. Millennials make less money than Generation X and baby boomers.
According to official numbers by the Federal Reserve, millennial households make less money than both Gen X and baby boomer households. The household incomes of Generation X families and baby boomer families are higher by 11% and 14%, respectively.
The same millennials generation statistics report highlights that millennial families with female heads of household have it even worse. In this category, Gen X and baby boomers households have higher earnings by 12% and 24%.
28. Money is a top priority when looking for a job for 92% of millennials.
Money, security, and time-off are the top priorities to millennials who are looking for a job, reveals a ManpowerGroup millennials in the workforce 2020 research. The respective percentages of participants who saw these things as a priority are 92%, 87%, and 86%. Great people and flexible working environment were important to 80% and 79% of individuals aged 23-38.
29. Millennials represent only 3% of gig workers.
Latest BLS reports revealed that only 1% of employed Americans were gig workers. Among those, only 3% are millennials. This is an interesting fact because many believe millennials stand behind the concept of gig working.
30. 73% of millennials have full-time jobs.
The largest percentage of millennials in the workforce in 2019 is full-time employees. However, out of 73% of full-time working millennials, 71% said they were open to non-traditional forms of employment. Only 21% of millennial workers hold part-time positions.
31. Only 14% of individuals aged 23-38 work on freelance/contract projects.
Freelancing grows in popularity. Yet, only 14% of those from the 23-38 age group are freelancers and contract workers. About 12% are self-employed, and 9% do casual work. Additional 4% of millennials are seasonal workers.
32. About 33% of millennial workers expect to get a promotion in less than two years.
About 33% of millennials in the workforce expect to get promotions every two years. Moreover, around 25% of employed millennials said the right time to stay in a company before being promoted was less than 12 months. The only alternative to getting promoted for these employees is getting a new job.
33. 93% of persons from the 23-38 age group find skill development crucial for their career.
Young workers aged 23-38 aren’t afraid of skill development, training, and learning. In fact, a stunning 93% of millennials in the workplace in 2019 saw these aspects as crucial for their career path. Most of them would even invest their money and time in order to grow their skills and knowledge. Only 7% reported no interest in learning and training.
34. 29% of global millennials are high learners.
Optimistic about their future, willing to learn new skills, and intellectually curious, around 29% of global millennials are high learners. Among those, about 66% hold a bachelor’s degree or higher qualification. Statistics on millennials in the workplace highlight that 69% of those high learners have income above the national average. About 63% of them were prepared for work by education.
35. 52% of employed millennials consider career progression a huge pro when rating employers.
Persons aged 23-38 won’t stay stuck in the same position and level for years. Instead, 52% of them claim career progression to play huge importance when deciding on a job. Millennials in the workplace 2018 study highlights that the second incentive to keep them engaged would be a competitive salary (44%).
Numerous minimum wage statistics confirm this statement, as more and more Millennials are making competitive, high-paying positions their priority.
36. 35% of employed Americans aged 23-38 have their own business on the side.
Not only millennials are prone to job-hopping, but they also have an interest in starting their own business too. Iconoculture research in 2011 showed that 35% of employed millennials in the US had their own business on the side.
Millennials in the US Versus Other Countries
37. Between 70–80% of the US millennials are optimistic and confident about their career prospects.
Research about millennials in the workplace by ManpowerGroup shows that US millennials are among the most optimistic in the world. Namely, between 70–80% of American millennials reported being optimistic about their career prospects.
Millennials from China, Germany, India, Mexico, and Switzerland belong in the same group as the US. In contrast, Japanese millennials are the most pessimistic ones in this regard, with only 30–39% feeling confident about their career.
38. 12% of American millennials expect to work until they die.
When it comes to retiring, US millennials are somewhere in the middle. As most millennials in the workplace articles report, about 12% of them expect to work until they die. Japan leads the way here with 37% of their millennials expecting to never retire. Only 3% of Spanish millennials plan to work until they die.
39. On average, millennial workers from the US put in about 45 hours per week in 2019.
Millennials in India put in the most weekly working hours - 52 hours per week. The US millennials in the workforce statistics for 2019 show that Americans from this generation work on average 45 hours per week. This places them in the same group as millennial workers in Brazil and Norway. British and Australian millennials work the least - 41 hours per week.
Millennials are overtaking the global workforce. As the times are changing, the needs of workers are changing too. For millennials, money, flexibility, and time-off seem to be the highest priorities when accepting jobs.
With their rise, millennial employees also create new challenges for employers and managers. For example, millennials need an incentive in order to feel engaged in their job. Moreover, they are always open to new opportunities, and they stand behind the trend of job-hopping. Even though they put in many working hours per week, millennial workers tend to use social media at work and get easily frustrated too.
As the latest statistics show, managers must learn to keep up with the growing number of millennials in the workplace. Otherwise, they won’t have engaged, loyal, and dedicated workers. In certain cases, they even may not have workers at all.