I don't think that's literally true? There are more Millennials (~22% of US population) now than Boomers (~20%) or Gen X (~19%). Same for Gen Z (~21%).
Or do you mean that for whatever reason, Millenials aren't participating in the work force?
> By contrast, participation among “prime-age” workers (25–54) has held relatively steady, averaging 83.6% since January 2024 and registering 83.8% in March 2026. It hit 84.0% in January, the highest since March 2001, with the current rate just shy of that recent peak.
> Each year, the Bureau of Labor Statistics (BLS) develops 10-year projections about the labor market. The latest projections for the decade stretching from 2024 to 2034 show a steady decline of the overall labor force participation rate (LFPR), from 62.6% in 2024 to 61.1% by 2034, a 1.5 percentage point drop over a decade. Given the size of the US labor market, that 1.5 percentage point decline represents roughly 4.3 million fewer people who are either employed or actively seeking work, relative to 2024 participation levels.
> The projections point to a demographic squeeze on the US labor market. As the population ages, workers move into older age groups where participation is lower. At the same time, fewer younger workers are entering the labor market, and prime-age participation rates decline slightly. Even with strong participation among prime-age workers and later retirements among older adults, the population is gradually shifting toward age groups with lower structural participation. The result is a slow but persistent decline in the overall LFPR.
https://web.archive.org/web/20260407201640/https://d341ezm4i...
The Demographic Squeeze: Why Labor Force Participation is Projected to Fall Through 2034 - https://www.hiringlab.org/2026/04/07/why-labor-force-partici... - April 7th, 2026
Our Labor Force Demographics Are Getting Worse - https://www.aei.org/domestic-policy/our-labor-force-demograp... - January 23rd, 2026
The Rising Storm: One Year Later - https://lightcast.io/resources/blog/the-rising-storm-one-yea... - Published on Jan 15, 2026, Updated on Mar 6, 2026
The Rising Storm: Building a Future-Ready Workforce to Withstand the Looming Labor Shortage [pdf] - https://www.datocms-assets.com/62658/1761154208-the_rising_s... - 2024
(think in systems)