Yes, Gen Z (whatever they're called - I've heard "Homelanders" and "iPod generation", neither of which really feels right) is just entering college. The people entering the workforce now are younger Millenials.
The Millenial generation really has three sub-generations: Xennials (1981-1986, distinguished because they can a. remember the Cold War and b. graduated into a decent economy, so they don't have the economic despair of the rest of Millenial generation), older Millenials (1987-1992, these are the folks who were totally fucked over by the Great Recession), and younger Millenials (1991-2000, young enough that they could actually adapt to the post-2009 economic conditions and make life-choices accordingly). Almost all Millenial billionaires are actually Xennials: Mark Zuckerburg, Brian Chesky, Drew Houston, Kevin Systrom, Mary Kate & Ashley Olsen, et al. The older Millenials are who people usually think of as "Millenials" (grew up expecting a lot, graduated when not a lot was to be found). There's a marked difference in behavior with young Millenials: they are much more studious, much more career-focused, more of them went into STEM careers, they're the ones driving the FIRE & cryptocurrency movements, etc.
Your years for 'xennials' don't match what I understood and what I mostly see when googling it right now. My understanding has been for those born between 1977 and 1983. https://en.wikipedia.org/wiki/Xennials.
Also, this group of xennials might not have graduated in a good economy (i.e. around 2001)
I graduated from college and moved to SF in the mid-00's and it was still a ghost town after the bubble burst. In hindsight, it was the perfect time to come, because rent was still very depressed and my generation didn't have any of the bubble scar tissue.
I was referring to people who are in their early twenties. They are probably younger millennial or older gen-z based on how you see it. Also there is another effect. Sex. People like to hangout in cities where they can have more sex. Many college kids presents opportunities to have more sex and parties. That also leads to people in their 20s to prefer those locations more.
The Millenial generation really has three sub-generations: Xennials (1981-1986, distinguished because they can a. remember the Cold War and b. graduated into a decent economy, so they don't have the economic despair of the rest of Millenial generation), older Millenials (1987-1992, these are the folks who were totally fucked over by the Great Recession), and younger Millenials (1991-2000, young enough that they could actually adapt to the post-2009 economic conditions and make life-choices accordingly). Almost all Millenial billionaires are actually Xennials: Mark Zuckerburg, Brian Chesky, Drew Houston, Kevin Systrom, Mary Kate & Ashley Olsen, et al. The older Millenials are who people usually think of as "Millenials" (grew up expecting a lot, graduated when not a lot was to be found). There's a marked difference in behavior with young Millenials: they are much more studious, much more career-focused, more of them went into STEM careers, they're the ones driving the FIRE & cryptocurrency movements, etc.