2017’s Best & Worst States for Millennials
Tuesday, April 04, 2017
Loved by marketers, vilified by media, millennials are at once the most popular and unpopular generation alive. They’re the largest, too, giving them an outsized influence on American culture and consumerism. Today, these late-teens-to-early-30-somethings who are often depicted through negative stereotypes — entitled, parentally dependent, deludedly invincible — are responsible for 21 percent of all consumer discretionary spending in the U.S.
And yet, despite their trillion-dollar purchasing power and higher educational attainment, millennials 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, significantly reducing their job prospects and earning potential for decades to come. By one estimate, millennials today earn 20 percent less than Baby Boomers did at the same age.