GITNUX MARKETDATA REPORT 2024

Must-Know Gen X Statistics [Recent Analysis]

Highlights: Gen X Statistics

  • The Gen X population in the United States in 2020 was 65.2 million.
  • Gen X has a homeownership rate of 61.1% in the United States.
  • Gen Xers hold the highest average credit card debt of any generation at $8,215.
  • Approximately 22% of Gen Xers lack confidence in their retirement preparedness.
  • Gen X is more likely to use Facebook (88%) than any other generation.
  • Around 70% of Generation X adults in the US prefer to shop online.
  • Gen X individuals have a savings rate of 8.3% in the United States.
  • Gen X parents pay approximately $16,200 per year on their children’s college education.
  • Within the US workforce, Generation X represents 33% of employees.
  • 58% of Gen Xers have a positive view of their personal finances.
  • 47% of Generation X feels stressed about outliving their retirement savings.
  • Average Gen Xer in the US is $36,000 short of the financial assets they will need for retirement.
  • Around 85% of Gen Xers are employed or looking for employment.
  • 78% of Gen Xers consider themselves to be loyal to brands, while 62% report switching brands if a store does not provide a personalized experience.
  • Approximately 48% of Generation X holds a bachelor’s degree or higher.
  • 65% of Gen Xers regularly donate to charity.
  • Gen Xers account for 27% of all US entrepreneurs.
  • Generation X is the most ethnically diverse generation, with 18% of Gen Xers identifying as Hispanic and 12% as African American.
  • 83% of Gen Xers use smartphones, compared to 96% of Millennials and 79% of Baby Boomers.

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Generation X, born between 1965 and 1980, is the demographic sandwiched between Baby Boomers and Millennials. This generation has been largely overlooked in terms of research but there are some interesting statistics that can help us better understand Gen Xers. Here we will look at 20 facts about Generation X including their population size, homeownership rate, credit card debt levels, retirement preparedness confidence level, social media usage habits as well as shopping preferences. We’ll also explore their savings rates for college education expenses and retirement funds along with employment status and loyalty to brands. Finally we’ll take a look at how diverse this generation is compared to other generations when it comes to ethnicity as well as smartphone use.

The Most Important Statistics
The Gen X population in the United States in 2020 was 65.2 million.

This statistic is a crucial piece of information when it comes to understanding the size and scope of the Gen X population in the United States. It provides a snapshot of the current population size and can be used to compare with past and future population sizes to gain insight into the growth and decline of the Gen X population. Additionally, it can be used to inform decisions about marketing, policy, and other initiatives that may be targeted towards Gen Xers.

Gen X has a homeownership rate of 61.1% in the United States.

The fact that Gen X has a homeownership rate of 61.1% in the United States is a testament to the financial stability and success of this generation. It speaks to their ability to save, invest, and build wealth, and is a sign of their commitment to creating a secure future for themselves and their families.

Gen X Statistics Overview

Gen Xers hold the highest average credit card debt of any generation at $8,215.

This statistic is a telling indication of the financial struggles that Gen Xers face. With an average credit card debt of $8,215, it is clear that many Gen Xers are struggling to make ends meet and are relying on credit cards to cover their expenses. This statistic is a stark reminder of the financial difficulties that many Gen Xers are facing and the need for more financial education and support for this generation.

Approximately 22% of Gen Xers lack confidence in their retirement preparedness.

This statistic is a stark reminder of the importance of retirement preparedness for Gen Xers. With such a large portion of the population lacking confidence in their retirement plans, it is clear that more needs to be done to ensure that Gen Xers are able to retire comfortably.

Gen X is more likely to use Facebook (88%) than any other generation.

This statistic is significant in the context of a blog post about Gen X Statistics because it highlights the importance of Facebook as a platform for connecting with this generation. It demonstrates that Gen Xers are more likely to use Facebook than any other generation, making it an essential tool for reaching out to them. Furthermore, it provides insight into the preferences of Gen Xers, which can be used to tailor content and marketing strategies to better engage with this demographic.

Around 70% of Generation X adults in the US prefer to shop online.

This statistic is a telling indication of the shopping habits of Generation X adults in the US, and is thus an important piece of information to consider when discussing the demographic. It speaks to the preferences of this generation, and provides insight into how they approach shopping. As such, it is an invaluable statistic to include in a blog post about Gen X Statistics.

Gen X individuals have a savings rate of 8.3% in the United States.

The fact that Gen X individuals have a savings rate of 8.3% in the United States is a telling statistic that speaks volumes about the financial state of this generation. It highlights the need for Gen Xers to take a more proactive approach to saving and investing for their future. This statistic is a reminder that Gen Xers should be taking steps to ensure their financial security and stability in the years to come.

Gen X parents pay approximately $16,200 per year on their children’s college education.

The fact that Gen X parents pay approximately $16,200 per year on their children’s college education is a telling statistic that speaks to the financial burden of higher education. It highlights the importance of planning ahead and saving for college, as well as the need for Gen Xers to be aware of the costs associated with college and how to best manage them.

Within the US workforce, Generation X represents 33% of employees.

This statistic is significant in the context of a blog post about Gen X Statistics because it provides a clear indication of the size of the Generation X workforce in the US. It is an important piece of information that can be used to compare the size of the Gen X workforce to other generations, and to analyze the impact of Gen X on the US economy.

58% of Gen Xers have a positive view of their personal finances.

This statistic is indicative of the financial security and stability that Gen Xers have achieved. It speaks to the hard work and dedication that this generation has put into their finances, and the positive results that have come from it. It is a testament to the resilience of Gen Xers and their ability to make the most of their resources. This statistic is an important reminder of the financial success that Gen Xers have achieved and can serve as an inspiration to others.

47% of Generation X feels stressed about outliving their retirement savings.

This statistic is a stark reminder of the financial insecurity that Generation X faces when it comes to retirement. It highlights the need for Gen Xers to take proactive steps to ensure their financial security in the future. It also serves as a warning to other generations to start planning for retirement early and to be mindful of their spending habits.

Average Gen Xer in the US is $36,000 short of the financial assets they will need for retirement.

This statistic is a stark reminder of the financial insecurity that Gen Xers face when it comes to retirement. With an average of $36,000 short of the necessary assets, it is clear that many Gen Xers are not adequately prepared for their golden years. This lack of financial security could have serious implications for their quality of life in retirement, and should be a cause for concern.

Around 85% of Gen Xers are employed or looking for employment.

This statistic is a telling indication of the work ethic of Gen Xers. It speaks to their commitment to staying active in the workforce and their dedication to providing for themselves and their families. It also speaks to the potential of Gen Xers to contribute to the economy and to the success of businesses.

78% of Gen Xers consider themselves to be loyal to brands, while 62% report switching brands if a store does not provide a personalized experience.

This statistic is a telling indication of the importance Gen Xers place on loyalty and personalization when it comes to their shopping experiences. It highlights the need for brands to provide a personalized experience in order to retain their Gen X customers, as well as the potential rewards for those that do. This is an important point to consider when discussing the shopping habits of Gen Xers, and is a key factor in understanding their preferences.

Approximately 48% of Generation X holds a bachelor’s degree or higher.

This statistic is indicative of the educational attainment of Generation X, which is an important factor in understanding the overall success of this generation. It shows that a significant portion of Gen Xers have achieved a higher level of education, which can be beneficial in terms of career opportunities and earning potential. Additionally, this statistic can be used to compare the educational attainment of Gen Xers to other generations, providing valuable insight into the educational landscape of the United States.

65% of Gen Xers regularly donate to charity.

This statistic is indicative of the generous nature of Gen Xers, demonstrating their commitment to giving back to their communities. It speaks to the values of this generation, and provides insight into their priorities and beliefs.

Gen Xers account for 27% of all US entrepreneurs.

This statistic is a testament to the entrepreneurial spirit of Gen Xers, demonstrating their drive and ambition to create and innovate. It speaks to the impact Gen Xers have had on the US economy, and the potential for further growth and development in the future. This statistic is an important reminder of the importance of Gen Xers in the business world and the potential they have to make a lasting impact.

Generation X is the most ethnically diverse generation, with 18% of Gen Xers identifying as Hispanic and 12% as African American.

This statistic is a testament to the diversity of Generation X, highlighting the fact that this generation is made up of a wide range of ethnicities. It is important to recognize this diversity when discussing Gen X statistics, as it provides a more accurate representation of the generation as a whole.

83% of Gen Xers use smartphones, compared to 96% of Millennials and 79% of Baby Boomers.

This statistic is a telling indication of the digital divide between generations. It shows that Gen Xers are not as tech-savvy as Millennials, yet they are more tech-savvy than Baby Boomers. This information is important for understanding the differences between generations and how they interact with technology. It can also be used to inform marketing strategies and target different generations with different approaches.

Conclusion

Generation X is a large and diverse population in the United States. They are more likely to own homes, have higher credit card debt, lack confidence in their retirement preparedness, use Facebook more than any other generation, prefer to shop online, save at an average rate of 8.3%, spend money on college education for their children (around $16200 per year), spend 1.1 hours daily on social media platforms and represent 33% of the US workforce. Gen Xers also tend to be loyal brand customers who donate regularly to charity and account for 27% of all entrepreneurs in America; they are also the most ethnically diverse generation with 18% identifying as Hispanic and 12% as African American while 83% use smartphones compared to 96 % Millennials & 79 % Baby Boomers respectively.

References

0. – https://www.www.schwab.com

1. – https://www.www.bls.gov

2. – https://www.www.healthcarefinancenews.com

3. – https://www.www.experian.com

4. – https://www.www.pewsocialtrends.org

5. – https://www.www.cnbc.com

6. – https://www.www.transamericacenter.org

7. – https://www.www.salliemae.com

8. – https://www.nces.ed.gov

9. – https://www.www.nar.realtor

10. – https://www.www.pewresearch.org

11. – https://www.www.statista.com

12. – https://www.www.listrak.com

13. – https://www.www.gsb.stanford.edu

FAQs

What is the birth year range for individuals belonging to Generation X?

Generation X generally includes those born between the years 1965 and 1980.

What are some common characteristics of Generation X?

Gen Xers tend to be adaptable, independent, resourceful, self-reliant, and have a healthy work-life balance mindset.

What major historical or cultural events had a significant impact on Generation X during their formative years?

Events such as the fall of the Berlin Wall, the cold war, the rise of MTV, the Gulf War, and the emergence of the internet era had a significant impact on Gen X.

How did the economy during the early years of Generation X's professional lives affect them?

The economic periods of high unemployment, downsizing, and multiple recessions led Generation X to face difficulties in establishing their careers, resulting in a pragmatic and cautious financial outlook.

What impact did Generation X have on the workplace?

Gen X brought a focus on work-life balance, adaptability in the face of technological advancements, and entrepreneurial spirit into the workplace. They also began to shift towards remote and flexible work arrangements.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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