At least not any more than any young people at any time, ever.
As the Times reports, a new book is coming out repudiating Jean Twenge's odious Generation Me, which purported to show through research that young people these days scored higher on the Narcissistic Personality Inventory than previous generations (research that was never published in a peer-reviewed academic journal until after her popular book was published.)
The new researchers use the same data to show not much has changed.
The Times quotes an intelligent and nuanced observer of the younger generation, who I also quote in my book:
“It’s like a cottage industry of putting them down and complaining about them and whining about why they don’t grow up,” said Jeffrey Jensen Arnett, a developmental psychologist, referring to young Americans. Mr. Arnett, the author of “Emerging Adulthood: The Winding Road From the Late Teens through the Twenties” (2004, Oxford University Press), has written a critique of Ms. Twenge’s book, which is to be published in the American Journal of Psychology.
Scholars including Mr. Arnett suggest several reasons why the young may be perceived as having increased narcissistic traits. These include the personal biases of older adults, the lack of nuance in the Narcissistic Personality Inventory, changing social norms, the news media’s emphasis on celebrity, and the rise of social networking sites that encourage egocentricity.
I agree, except:
-Popular obsession with the doings of celebrities, as distinct from the portrayed attitudes of the celebs themselves, doesn't necessarily have to do with narcissism. It's just gossip, fodder for discussions about social norms, relationships, romance, and all the other juicy bits that hold a society together. It's also a source of powerful imagery that mainly makes young women feel bad about their bodies & themselves--not really amplifying narcissism.
-Social networking sites don't necessarily encourage egocentricity. This betrays a fundamental misunderstanding of social networking. Yes, you build your profile page, and you're concerned about your popularity, but you spend most of your time on other people's profile pages, sending messages, sharing photos, planning events. They call it social networking for a reason, not "me" networking.