Demographics maven and New Strategist Press editorial director Cheryl Russell top lines the findings the Bureau of Labor Statistics arrived at as it reframed its by-age group Consumer Expenditure Survey buckets to align with Pew Research definitions of generational cohorts.
The highlights are fascinating. How useful and helpful they are remains to be seen. Russell writes about ones she picked up on first inspection:
Gen Xers spend much more on mortgage interest than any other generation. Many bought homes when housing prices were peaking. Millennials, Gen Xers, and Boomers spend more on cell service than landline service. Eighty percent of Millennial households own a car. Ownership peaks at 91 percent among Boomers and falls with age to 66 percent in the WWII generation (aged 86 or older). Gen Xers spend the most on men's clothes. Boomers spend the most on women's clothes. Average household spending on entertainment is highest among Gen Xers. Millennials spend relatively little on entertainment, surpassing only the WWII generation. Even the Silent generation spends more on entertainment than Millennials.