Gen-Z has overtaken Millennials by nearly 4 million to become the largest generation in the United States. Baby Boomers are the third-largest generation with the population of 69 million persons in 2020.

With a current population of around 86 million, the Gen-Z generation is expected to grow to 88 million over the next 20 years because of migration, according to the United Nations' latest World Population Prospects.

The boundaries that define generations are not universally agreed, and yet these boundaries carry important implications in business and government. The size, financial security, and general health of each generation shapes everything from marketing campaigns to insurance and social welfare benefits to transportation and health services planning.