Type of Generation and Their Importance Towards the Economy

Every type of generation has its own unique characteristics which will influence how the trend will be in the future. These traits will also differ from one generation to the other and their importance will shape the world's economies into something different from what we see today.

It is important for most businesses to identify the type of generations that they will be targeting since knowing their traits will help the business go even further.

1. Silent Generation

The first-ever generation to be classified will be the silent generation or also known as Traditionalist which was born in the 1920s up until 1945. Some of you might wonder why they are called that way. Well, it's because this generation does not stand out compared to other generations.

They were also born during The Great Depression era as well as the second world war. They have gone through tough times during their childhood years and because of that, they are considered very diligent.

The Silent Generation are also the ones that are more loyal to their employer compared to the rest.

2. Baby Boomers

The second generation will be the Baby Boomers that were born from 1946 until 1964. They are called Baby Boomers due to the time at which the rate of birth has increased tremendously.

They are also among the generation which experiences the first change in technology as well as the development of mass media that has just started. Not just that but they are also considered the richest generation in the world as of now.

3. Gen-X

The Gen-X will be those who were born from 1965 until 1976. They are the generation that sits in the middle in terms of all aspects.

In terms of technology, they are known as the hybrid generation where the use of technology in their life are moderate. They are also the workers which are the most optimum in a company in which it will be easier to cooperate with them.

Aside from that, Gen-X are also the ones who prioritize a balanced lifestyle, especially in their career.

4. Gen-Y

The fourth generation will be Gen-Y which is among the famous generation also known as the millennials. In the meantime, this generation is the most important one out there as they influence the world economies as most of them are in the jobs industry.

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This generation also has certain characteristics that are rather unique compared to the previous generation. This generation is among those that rent houses and doesn't own their very own home yet.

Gen-Y is also the generation that is the most intelligent as well as having a very high education among all the other generations. However, they are also the generation that is very unloyal to their employers.

5. Gen-Z

The last and final generation will be Gen-Z or also known as the digital generation. This generation was born in the year 1995 until 2010. This generation is the one that has enjoyed all the latest technologies that are thriving in which we can see today.

This generation also spends a lot of their time in the virtual world of social media compared to reality. They are also self-confident and autonomous when it comes to surviving in this modern world.

Which generation do you belong to and do you think you have these traits?

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