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Work, Leisure, and Family: From the Silent Generation to Millennials

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Abstract

This article analyzes the changes in family structure, fertility behavior, and the division of labor within the household from the Silent generation (cohort born in 1940-49) to the Millennial generation (cohort born in 1980-89). Using data from the Panel Study of Income Dynamics, this article documents the main trends and life-cycle profiles for each generation. The main findings are that (i) the wage-age profile has been shifting down over generations, especially for Millennial men; (ii) the returns to a four-year college degree or higher for men have increased for all generations; (iii) Millennials enjoy a higher level of leisure than previous generations; (iv) the housework hours for women have clearly declined over generations, while the housework hours for Millennial men are higher than those of the previous generations of men; (iv) less-educated individuals have retreated from marriage, especially Millennials, while more-educated individuals have delayed marriage; (v) divorce rates have risen, with Millennials most likely to divorce, but the longer a couple is married, the likelihood of divorce has decreased over generations; and (vi) the Millennials' completed fertility rate is likely to be the lowest among all generations.

Suggested Citation

  • George-Levi Gayle & Prasanthi Ramakrishnan & Mariana Odio-Zúñiga, 2021. "Work, Leisure, and Family: From the Silent Generation to Millennials," Review, Federal Reserve Bank of St. Louis, vol. 103(4), pages 385-424, October.
    • Handle: RePEc:fip:fedlrv:93191
    DOI: 10.20955/r.103.385-424
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    Keywords

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    JEL classification:

    • I0 - Health, Education, and Welfare - - General
    • I2 - Health, Education, and Welfare - - Education
    • J0 - Labor and Demographic Economics - - General
    • J1 - Labor and Demographic Economics - - Demographic Economics
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • J7 - Labor and Demographic Economics - - Labor Discrimination

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