Syllable division derived from spelling — this word is not in the pronouncing dictionary, so no phonetic transcription is shown rather than a guessed one.
modern-day is an adjective meaning "characteristic of the present". It carries one recorded sense.
characteristic of the present
“contemporary trends in design”
“the role of computers in modern-day medicine”
Definitions, synonyms and semantic relations for modern-day come from Princeton University’s WordNet. Commonness is measured against a corpus of everyday English. Full sources and licences.