There's a lot of misinformation going around about millennials--everything from their supposed sense of self-entitlement, to their laziness, to their desire to only work for companies that have sworn off making a profit.
Truth be told, none of these stereotypes are true--not by a long shot.
Infographic creator Venngage recently decided to put these millennial myths to the test--looking for hard data that would either support or refute them. In most every case, the data showed that the most common stereotypes of millennials are wrong.
Here are 5 really dumb ideas about millennials that just aren't true:
1. Millennials have it easy
As Venngage discovered, this is definitely not the case. According to the data, 1 out of 5 millennials are currently living in poverty, and the unemployment rate for millennials is 40% higher than for the members of Gen X.
2. Millennials are lazy
Wrong again. According to Venngage, 66% of millennials want to start their own business as their main career goal, and millennials are creating new companies at twice the rate of Baby Boomers and Gen Xers. And the vast majority of millennials always keep the office in reach--about 89% check and respond to work email messages outside their normal working hours.
3. Millennials are job hoppers
While many millennials have been forced to change jobs as a result of weak economic conditions, millennials have proven to be particularly loyal to their first employers. On average, millennials stick with their first major job for 3 to 6 years, which is significantly higher than the average of less than 1 year for Gen Xers.
4. Millennials are financially irresponsible
It's true that many millennials are in debt--mostly in the form of college loans--with 66% having at least one form of long-term debt. However, millennials are starting savings accounts at an earlier age than previous generations did (age 23 versus 32 for Boomers), and 62% of millennials are saving 5% or more of their income--about double the rate of older generations at the same age. More than 50% of millennials already have a retirement savings account.
5. Millennials are self-absorbed
Time magazine once labeled millennials as "The Me Me Me Generation"--accusing them of being lazy, entitled narcissists. While millennials are certainly concerned about their self-image--particularly on social media--they actually are very concerned about the world around them. In one study, researchers found that 75% of millennials had given to a charity, and 63% had volunteered for a cause.