Millennials are reportedly killing off yet another cultural mainstay, but this time, it may be a good thing. According to Bloomberg, divorce rates are going down, thanks to the commitment powers of younger generations.
Between 2008 and 2016, the divorce rate in the U.S. dropped by 18 percent, according to a new analysis of data from the Census Bureau’s American Community Survey. Controlling for related factors like age (older people are less likely to get divorced than younger couples), the rate still dropped by 8 percent. By contrast, Baby Boomers have consistently divorced at higher rates than previous generations.
Many declines that Millennials are blamed for—like rates of homeownership or having kids—can actually be attributed to the dismal finances of a generation that came of age in a recession, is saddled with crushing student debt, and faces high costs of living and low wage growth. Divorces can be expensive, too. Yet several trends point to a higher likelihood of marriage stability for the Millennial generation that has nothing to do with finances. On average, Millennials are marrying later in life, and spending more time dating partners prior to marriage than earlier generations, both of which correlate with a lower chance of divorce, according to social scientists.
“The U.S. is progressing toward a system in which marriage is rarer, and more stable, than it was in the past,” author Philip Cohen writes in the paper.
Sorry, law school students, but it looks like being a divorce lawyer is going to get a little less lucrative in the future.