Study of features of the younger generation is becoming increasingly important in the background of global changes in modern society. Young people are the most active and dynamic part of the community, responsive to various social changes. The article is about the features of formation and development of today's young people. The author has analyzed the socio-psychological research on young people at this stage. The article presents the results of empirical studies of the social well-being of young people, discusses the features of social well-being and self-determination of the younger generation. The authors identified the components of self-concept and social well-being. The study identified the dominant figures of self, self-relation, social and psychological adaptation of young generation. A comparative analysis was made of the results obtained in a group of students and young workers, which revealed significant differences. The article may be of interest to psychologists and professionals working with young people and social policy in the region.