Is New York the Best Place For Millennials?
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 are often depicted through negative stereotypes including entitled, parentally dependent, emotionally fragile and so on. However, they are responsible for a large percentage of all consumer discretionary spending in the United States. Despite the purchasing power and level of education, they are economically worse off than their parents. 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. The experience for millennials is not the same everywhere though. A recent study compared all 50 states and the District of Columbia to determine where this generation has thrived and struggled. They compared the states across 34 metrics that ranged from a share of millennials to the millennial unemployment rate to the millennial voter-turnout rate. We were listed as the 13th best state for millennials. Here's the breakdown:  Living & Working as a Millennial in New York:  49 th  % of Millennials Living with Parents   % of Millennials Living with Parents 43 rd  Housing Cost for Millennials   Housing Cost for Millennials 11 th  % of Millennials   % of Millennials 2 nd  Average Monthly Earnings for Millennials   Average Monthly Earnings for Millennials 49 th  Millennial Homeownership Rate   Millennial Homeownership Rate 30 th  Millennial Unemployment Rate   Millennial Unemployment Rate 17 th  % of Insured Millennials   % of Insured Millennials 5th  % of Millennials with Depression  Top 5 Most Attractive States in the U.S.