Are Millennials leaving town? Reconciling peak Millennials and youthification hypotheses

Are Millennials leaving town? Yes, they are. young adults No, are not. The seemingly contradicting answers due to the fact that age and birth cohort distinct concepts. Showing how these two phenomena can coexist, this paper aims provide detailed timely information on faring compared previous generations in United States. Using 1962–2019 Current Population Survey (CPS), first analyzes current status of Millennials, terms various demographic socio-economic dimensions, compares them with those older at same ages. results indicate did experience delays transition into adulthood, but have started catch up recent years. Then examines residential location across metropolitan status, urban suburban areas largest 50 Metropolitan Statistical Areas (MSAs) analysis based confidential version 2006–2019 American Community (ACS) microdata confirms early migrate from areas, consistent peak Millennial hypothesis, presence has increased over time, youthification hypothesis. Reconciling hypotheses, discusses implications ongoing shifts for future landscape.