by Lucinda Shen
date: May 19, 2017
BABY BOOMERS“婴儿潮一代” (1946-1964)
81% of Millennials Are More Likely to Spend Money on Travel Than Save for the Future
According to a Bank of America Merrill Lynch study published Friday,
today’s 18- to 34-year-olds are much more likely to prioritize travel,
dining, and their gym membership over their financial future.
Moreover, millennials aren’t thinking about retiring as early as
possible; instead, they’re looking to have the most fulfilling life
That is in contrast to the Boomer and Gen-Xers: the majority of both
generations said they save up in the hopes of finally retiring.
Researchers and economists have postulated other factors that are
believed to be preventing millennials from owning a home. Namely, the
rising, and sizable burden of student loans, which ballooned to about
$35,000 per student in 2016.
That’s roughly three times what their parents had to worry about when
leaving university two decades earlier. Meanwhile, millennials may be
earning about 20% less than their parents were at their same life
These days, every time another industry starts to suffer or a long-held
tradition begins to decline, the change is blamed on millennials.
Calling a dramatic increase in the number of children born a “baby boom”
dates to the 19th century. In 1941, an issue of?LIFE
Magazine—discussing the increasing birthrate due to older couples
having children after the Great Depression and the many marriages that
came about because of the peacetime draft of 1940—proclaimed that “the
US baby boom is bad news for Hitler.”
- Post–World War II baby boom:
- Generation X:
Millennials have been blamed for killing everything from home ownership
to casual dining restaurants to golf, but now they’re getting credit for
‘killing’ something that’s generally considered a bad thing, anyway:
The children who would come to be known as Baby Boomers, however,
wouldn’t be born for a few more years as soldiers returned home from the
war and the economy “boomed.”
And they’re certainly gloating. Twitter users have reacted to the news
with glee, sharing funny, tongue-in-cheek tweets about millennials’ role
in plummeting divorce rates.
Although the children born from 1946 to 1964 get the name Baby Boomers,
that phrase wouldn’t appear until near the end of the generation. In
January 1963 the?Newport News Daily Press?warned of a tidal wave of
college enrollment coming as the “Baby Boomers” were growing up.
New research shows that the US divorce rate dropped 18 percent from 2008
Oddly, an alternate name for people born during this time was Generation
X; as London’sThe Observer?noted in 1964, “Like most generations,
‘Generation X’—as the editors tag today’s under 25s—show a notable lack
of faith in the Old Ones.”
And according to analysis of US Census data by University of Maryland
sociology professor Philip Cohen, that’s all thanks to millennials, as
well as younger members of Generation X.
GENERATION X “X世代”(1965-1980)
That comment in?The Observer?was in reference to a then-recently
published book called?Generation X?by Jane Deverson and Charles
Hamblett. A few years later, Joan Broad bought a copy at a garage sale,
her son found it, and he fell in love with the name.
According to the Pew Research Center, millennials are those who were
born between 1981 and 1996, making them 22 to 37 years old.
That son was Billy Idol, and according to his memoir,?Dancing with
Myself, “We immediately thought it could be a great name for this new
band, since we both felt part of a youth movement bereft of a future,
that we were completely misunderstood by and detached from the present
social and cultural spectrum. We also felt the name projected the many
possibilities that came with presenting our generation’s feelings and
thoughts.” The band Generation X would begin Billy Idol’s career.
Cohen explained that millennials are waiting longer than Baby Boomers to
tie the knot, and as such, have become less likely to divorce.
But the name Generation X wouldn’t become associated with a wide group
of people until 1991. That’s the year Douglas Coupland’s?Generation X:
Tales for an Accelerated Culture?was released. The book became a
sensation for its ability to capture early ’90s culture and, although it
didn’t coin the words, helped popularize a range of terms as diverse as
McJob and pamphleting—and a name for an entire generation.
When the new data was published earlier this week, social media users
found the news promising — but also particularly funny, in light of the
trend of blaming millennials for industries that have died off.
MILLENNIALS 千禧一代 (1981-1996)
‘Typical millennials, ruining another sacred institution with their
avocado toasts and commitment to stable relationships,’ quipped NBC News
reporter Alex Seitz-Wald.
What comes after Generation X? Generation Y, obviously. That was the
logic behind several newspaper columns that proclaimed the coming of
Generation Y in the early ’90s. But as psychologist Jean Twenge
explained to NPR regarding the failure of “baby busters” as a term to
describe Generation X, “Labels that derive from the previous generation
don’t tend to stick.”