Slices | Jul 21, 2014
According to new research, many millennials are forgoing marriage—at least for now. A recent report from the Urban Institute found that millennial adults are currently on pace to have lower rates of marriage by the age of 40 than any other generation on record. They estimate that if the current trend continues, 30% of millennial women will not be married by their 40th birthday. By comparison, that’s double the number of unmarried Gen X 40-year-old females.
As CNN Money points out, the data also notes that “Hispanic and black Millennials, as well as those without college degrees, are expected to see greater declines in their marriage rates.” Though the researchers say that “staying single while young gives them more opportunity to establish a financial base,” in the long-term, the trend could have a negative economic effect: University of Michigan sociology professor told the outlet, “The evidence shows that getting married increases wealth and income." The study echoes the findings of a Pew study from March that found that 74% of current 18-to-33-year-old adults are not married ... Discuss