WalletHub has compared the 50 states and the District of Columbia to determine where millennials are thriving and struggling. They looked at over 30 metrics, ranging from share of millennials and millennial unemployment rate to millennial voter-turnout rate. The State of Washington ranked #1 and Colorado ranked #7. Of the metrics, Colorado did worst in affordability (#38) and best in ‘quality of life’ (#3).
Here’s more from WalletHub:
“Millennials are at once the most popular and unpopular generation alive. While they’re currently the largest generation, having overtaken the baby boomers in 2019, they are likely to lose that status to Generation Z by 2026. However, with a population of around 80 million, millennials will continue to have a huge influence on American culture and consumption. Today, these mid-20-to-early-40-somethings who are often depicted through negative stereotypes — entitled, parentally dependent, emotionally fragile — are responsible for 21 percent of all consumer discretionary spending in the U.S.
Yet despite millennials’ trillion-dollar purchasing power and higher educational attainment, they are economically worse off than their parents. Why? The financial crisis remains a big part of the reason. Millennials have come of age and entered the workforce in the shadow of the Great Recession, which has significantly reduced their job prospects and earning potential for decades to come. Plus, many millennials are struggling due to financial difficulties from the COVID-19 pandemic and the resulting high rate of unemployment.”
WalletHub Best & Worst States for Millennials 2021
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