Millennials are an odd bunch. They want more government services, but a vast majority of them thinks government is inefficient and two-thirds say they prefer a free-market economy over one managed by the government. It is unclear that they realize how bleak their economic future could be. In order to pay for insolvent government programs, such as Medicare and Social Security, which largely benefit older and richer Americans, Millennials will face higher taxes and lower standards of living.
Until now, Millennials also were delaying marriage and having babies before saying “I do.” That is now changing. The Wall Street Journal reports:
The millennial generation has been stereotyped as beleaguered and averse to marriage and having children. But the demographic trends suggest they will increasingly be married, college-educated, well-to-do parents . . .
Now, as the millennial generation has aged to include people throughout their 20s and early 30s, the group is near a demographic tipping point. For births in the year 2015, 59% of children born to this generation will have married parents, according to Demographic Intelligence’s forecast, and that share will ultimately rise to around 77% over the next 10 years.
The coming wave of millennial births will also increasingly come from the college-educated. Beginning at age 31, mothers are more likely to have a college education than to have stopped their schooling with high school or some college.
More of them will still remain unmarried than in previous generations (about 25 percent) but, unlike in previous estimates, it looks now that a majority of Millennials will tie the knot.
Here is a good chart on the social trend: