Differences Between Generation X, Y, and Z
People often use phrases we don’t understand and even use them even we are clueless regarding to what their meanings are. We have a passion for words and language. Most of us can’t have a detailed understanding particularly when the word belongs to the jargon of a larger body of knowledge. On the other hand, when that jargon is in use as often as the phrases “Gen X” or “Baby Boomer”, it seems that we tend to have a good idea on what they really mean. Although the phrases itself, as jargon, a stem from a larger discipline of demographics, and are mostly used by market researchers, everybody uses this phrases.
If you were born in the years 1966-1976, then you are referred to as Generation X or sometimes referred to as the “Lost” Generation. There are currently 41 million people included in this generation. This was the first generation of “Latch-key” kids, those who were exposed to lots of daycare and divorce. This generation was known as the generation with the lowest voting participation. This period is often characterized by high levels of skepticism and a reputation for some of the worst music to ever gain popularity. However, in this generation, 29% obtained a bachelor’s degree or higher which makes it the best educated generation.
Those people born in the years 1977-1994 are referred to as the Generation Y. Gen Y kids are recognized as incredibly sophisticated and technology wise. These kids are much more racially and ethnically diverse and more segmented as an audience aided by the fast expansion of cable TV, radio, internet, etc. They are also often raised in dual income. Studies show that one in nine Gen Yers has a credit card co-signed by a parent. Generation Y has also the largest cohort since the baby boomers. The current population in this generation is 71 million.
Those born between the years 1995-2011 are referred to as the Generation Z. This generation is currently being followed for we don’t know much about Generation Z, for now. The current population is 23 million and growing rapidly. This very diverse environment will make the grade schools of the next generation the most diverse ever. Generation Z kids will grow up with a highly sophisticated media and computer environment.
- 29% of the Gen Xers obtained a bachelor’s degree or higher which makes it the best educated generation.
- Generation Y has also the largest cohort since the baby boomers.
- Generation Z kids will grow up with a highly sophisticated media and computer environment which makes them the most diverse generation ever.