Generation WE: The Movement Begins
Millennials are now the largest generation in American history. Flickr

Move over baby boomers, you're no longer the biggest generation. Millennials in the US now outnumber the boomers and make up more than quarter of the American population.

According to the latest US census data there are 83.1 million millennials (defined in the census as people born between 1982 and 2000) compared with 75.4 boomers (those born between 1946 and 1964).

One thing noticeable about American millennials: they're far more diverse than boomers. A full 44.2% of millennials — and over half of all Americans under 5 years old — are part of a minority racial or ethic group, according to the latest figures.

In fact, the whole population is more racially and ethnically diverse. A total of 37.9% of Americans identified as minorities in 2014, up from 32.9% in 2004. And for the first time ever Americans under the age of five became "majority minority" with 50.2% being part of a minority race or ethnic group.

As for millennials, they're also the gayest generation to date, according to a recent report by the Public Religion Research Institute, which found that 7% of millennials "identify as lesbian, gay, bisexual, or transgender." That compares with a 2011 study of the LGBT population in the US by the Williams Institute that estimated that 3.5% of adults identified as lesbian, gay, or bisexual, and 0.3 percent identify as transgender.