Marshall & Sterling Insurance June, 2016 | Page 4

Millennials Become
Largest U.S.
Demographic
Millennials have overtaken baby boomers
as the largest living generation, according
to the Pew Research Center. The latest
information from the U.S. Census Bureau
places the population of millennials (those
ages 18 -34 in 2015) at 75.4 million, while
the number of baby boomers (ages 51-69)
is 74.9 million.
2015 also marks a major shift in the
workforce population, with millennials
(53.5 million) outnumbering both baby
boomers (44.6 million) and Gen Xers (52.7
million) in the first quarter of 2015.
This data indicates with some urgency the
need for employers and businesses to
adapt to the changing demographics of
the marketplace. Much has been written
about the generational differences
between millennials and their parents.
Without generalizing too much, experts
recommend that businesses find ways to
accommodate millennial preferences,
including increased web and mobile
accessibility, increased social media
presence, and options for contact and
customer service beyond the traditional 9to-5 workday.

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