Washington Ranked 1st State in the Nation for Millennials | Washington
(The Center Square) – The Evergreen State is leading with millennials, according to a analysis by WalletHub.
The personal finance website ranked Washington State as the number one place to live for Millennials, the demographic born between 1981 and 1996, that is, people between the ages of 24 and 41.
WalletHub compared the 50 states and the District of Columbia across 34 key metrics, including millennial share, millennial unemployment rate, and millennial voter turnout.
“Millennials have come of age and entered the workforce in the shadow of the Great Recession, which has dramatically reduced their job prospects and earning potential for decades to come,” according to the analysis by WalletHub. “Additionally, many millennials are struggling due to financial hardship related to the COVID-19 pandemic. However, they may find new opportunities in today’s job market, where employers are desperate to hire and applicants have more leverage to secure good pay and benefits.
WalletHub analyst Jill Gonzalez explained Washington‘s top spot.
“Washington is the best state for Millennials because they have a very high quality of life here,” she said over email. “This is indicated by high average monthly earnings – over $7,000. The state also has a low proportion of inactive millennials, around 15%, as well as a small percentage of millennial smokers, less than 14%.
The state ranked fourth in percentage of millennials and average monthly earnings.
“Millennials make up over 22% of the population, and only about 25% of them live with their parents,” Gonzalez noted. “The state always welcomes newcomers. It has one of the highest proportions of millennials who moved here from another state or from abroad, and the second highest growth in the nation’s millennial population, at nearly 13%. Additionally, the average revenue growth in the state is the largest nationally, at more than 39%. »
Washington ranks ninth in the percentage of millennials living with their parents, 17th in the percentage of insured millennials and 19th in the millennial unemployment rate.
The other Pacific Northwest states, Oregon and Idaho, ranked No. 7 and No. 27, respectively, in terms of appeal to millennials.
Top 10 States and Designated States for Millennials:
2. District of Columbia
The 10 Worst States and State Designations for Millennials:
50. West Virginia
49. New Mexico
45. South Carolina