How much money do Generation Z workers earn in each state
Generation Z workers make up about 12.6% of the workforce as of 2020, according to the latest data from the Bureau of Labor Statistics, and typically earn about $32,500 a year, according to an August analysis by GoBankingRates.
GoBankingRates analyzed the average hourly, weekly, and annual earnings of 16-24 year olds to determine how much Generation Z workers earn across the U.S. Since the average reflects the midpoint, about half of Generation Z workers earn more than that amount and earn half. less.
The economic power of Generation Z is the fastest growing of all generations, according to a 2020 Bank of America survey reported by CNBC. As they continue to enter the workforce, their income is expected to increase fivefold to $33 trillion by 2030 and exceed that of millennials by 2031.
This is the average amount that Generation Z workers earn in each state.
As the map shows, income tends to vary by location. States with a higher cost of living, such as New York, typically tend to pay higher wages than countries with a lower cost of living, such as Kentucky.
However, many Generation Z workers are giving up living in expensive big cities and choosing instead to live in fast-growing suburbs, according to an August survey by Glassdoor.
Glasdoor ranked Scottsdale, Arizona, which is about 30 minutes from Phoenix, as the best city for Generation Z to work in.
Meanwhile, New York ranked 18th on the list, and Los Angeles ranked 45th as well.
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