Understanding Generation Y

Understanding Generation Y

Gen Y Definition

The label been given to the generation of people born between 1980’s and the late 1990’s is GEN Y.

Also referred to as the echo boomers, because they are the children born to parents born during the baby boom.(baby boomers) Children born during this time have had constant access to technology.

Trends, technology and events have significantly shaped today’s generation of cohort people (Meaning the generalisation of a group)

It focuses on the group aged between 17 and 31.

There are about 4 .5 million Gen Y’s in Australia most of them are male.

Moving out or not moving out

The most common reasons to stay at home for echo boomers are finical reasons, convience, enjoy living at home with parents.

• 23 per cent 20-30 year olds live in the parental home

• In metropolitan cities such as Sydney and Melbourne this is 27%

• Males are more included to stay at home longer than females

• The top four reasons for 20 something’s today to move to of home are to be independent followed by relationship, study and employment .

• Two thirds of gen y return home due to finical reasons

The 1980’s and 1990’s in retrospect

In the 1980’s the number of births began to increase and hitting a peak of 264,000 in 1992. This was the highest number of births since 1972. Birth rates then dropped away in the rest of the 90’s until 2002.

The 1980s was a decade of contrasts. The Australian economy was booming - property values skyrocketed and many businesses made large profits. Many people became pre-occupied with making money and of course, spending it. Fashion, music and television from the decade were glitzy, showy and glamorous.

In October 1987, however, everything changed. All over the world, stock markets crashed and Australia went into economic recession. Businesses were forced to close, and many people lost their livelihoods

By the 1980s, migrants from all over the world had settled in Australia. Immigration rates...

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