Millennials Make the Most Money in Massachusetts; Connecticut Ranks 16th

If you were born between 1982 and 2000, and you live in Massachusetts, you’re making more money, on average, then people of your generation living elsewhere in the United States.  If you live in Connecticut, there are 15 states where the average salary for millennials is higher. Based on U.S. Census data analyzed by the website, the average salary for millennials in Connecticut is $69,600, compared with $80,307 in Massachusetts.  The states in between, reaching the top 10, are Minnesota ($77,090), North Dakota ($76,836), Washington, DC ($75,220), Maryland ($74,737), New Hampshire ($73,941), Wyoming ($73,345), Alaska ($72,374), New Jersey ($72,150), and Virginia ($71,397).

Also ahead of Connecticut are Utah ($71,284), South Dakota ($70,989), Nebraska ($70,870), Washington ($70,441), and Iowa ($69,739).

The analysis points out that millennials “are the most diverse generation in American history, more of them went to college than previous generations, and they are now the largest contingent in the workforce. Many of them also graduated in the middle of the Great Recession, which economists believe might have a lifelong impact on their wages.”

Geography also plays a role, according to the data.  The South, for example, “clearly stands out as a lackluster region for millennials in the labor market.”  In the Upper Midwest, salaries tend to be higher, and the same is true for much of the Northeast.

With the exception of Washington State, much of the west coast does not stand out.  “This highlights the fact that big tech companies are creating great jobs for a select group of skilled workers,” the analysis points out.

Millennials are making the least amount of money in Florida ($54,889), Mississippi ($53,269) and New Mexico ($51,893).

The data used is 2016 median household income for 25 to 44 year olds, taken from Census data and adjusted by Bureau of Economic Analysis regional price parity data, the most recent and comprehensive available.