Millennials by the numbers

A breakdown of Canada's Gen Y, the upcoming market to keep an eye on.

As millennials grow up, get jobs and buy houses, they’re the upcoming market to keep an eye on. The boomers may represent a wider slice of the buying-power pie (with more discretionary funds at their disposal), but millennials are right on their heels. Here’s a look at Canada’s Gen Y.

8.9 million Canadians were born between 1981 and 2000

Let’s talk money:

$225 billion is the estimated income of millennials, roughly 20% of all income earned in Canada. Boomers make 30%, while Gen Xers bring in 46%.

1 in 3 consider themselves entrepreneurs and have some sort of side business.

700,000 are unemployed.

4.5 million (about half) currently live with their parents (up from 1/3 in 1998). Despite the joblessness, there was an 89% increase in travel and a 13% increase in luxury fashion purchases between 2011 and 2012 (compared to 6% and 24% among boomers).

The “always on generation”:

59% own a smartphone (as of 2011).

50 text messages is the daily average.

14% own a tablet (compared to 7% of non-millennial generation).

46% made a mobile purchase in the past month.

Who’s cleaning house?

53% of Gen Y women do all the housework in dual-earning couples, compared to 59% for Gen X.

1.54 hours versus 1.34 hours per day is the amount of housework women clock over men (compared to 2.25 and 1.31 hours in 1986).

36%  say they’ll buy as many eco-friendly products as they can, a steady increase from 31% in 2009.

Photo by Ed Yourdon