(CNN) -- When it comes to marriage, millennials are saying "I don't."
Today's young American adults are on track have the lowest rates of marriage by age 40 compared to any previous generation.
If the current pace continues, more than 30 percent of millennial women will remain unmarried by age 40. That's nearly twice the share of their GenX counterparts.
All this comes from a recent Urban Institute Report.
There are several reasons behind the plunge. More Americans are living together without getting married, and some are raising families just without the gold bands.
Also, marriage used to be the starting point for young adults. They got hitched early and built a life together but now, many people feel they have to be more established, especially financially, before they walk down the aisle.
The explosion in singles has an economic downside, married couples are often better off financially, which means they can spend more.