These days, millennials are getting blamed for everything from killing retail shopping to obliterating beer. But one item in their path of destruction seems to be good for everyone with strong feelings about relationships. In this instance, we're talking about divorces.
According to Bloomberg, demographic studies are revealing that the rates of divorce are dropping in the U.S., especially among people younger than 45. A University of Maryland study released earlier in September indicated that the splitsville trend has dropped by 18 percent over the last 10 years, much of it due to how relationships are perceived among millennials, and to a lesser extent, the Generation X crowd.
For openers, most younger people tend to stay at home later in life until their finances, especially student loans, are under control or at least when they're able to get a steady job. They also have a higher education rate, making them a lot more selective about the type of significant other they wish to spend their lives with. That's a significant break from boomers who tended to marry much younger, and then divorced when it turned out things weren't going to work out.
The pattern wasn't discovered until very recently, because boomers throughout the years tended to divorce a lot. Statistics from Bowling Green's National Center for Family and Marriage Research demonstrated that divorces were double the national rate among couples between 55 and 64 from 1990 to 2015. For those 65 and older, those rates tripled, thanks to what most demographic scholars to call the trend "grey divorce." The rates have since come down in recent years as those same boomers start to die off.
Conversely, millennials are taking marriage much more seriously to the point where it's treated as more of a status symbol. They tend to be a lot pickier when it comes to mates, especially those with higher incomes as a result of getting a good post-secondary education and saving money while still staying at home. However, those in that same age group with less education and lower incomes aren't getting married, opting more for a common law arrangement.
If the drop continues, one trend that may also emerge could be diminishing prospects for divorce lawyers.