Baby boomers make more money than millennials in all 50 states
Jul 21, 2018, 5:34 PM
(Pexels photo)
(Pexels photo)
Though millennials are no longer children, they still tend to make much less money nationally than older generations.
That’s according to a study from Business Insider, which analyzed 2016 U.S. Census Bureau data to find the median income among full-time employees in three generations. It compared millennials (ages ranged from 20-35 in 2016), Generation X (36 to 51) and baby boomers (52 to 70).
Millennials made less money on average than the other two generations in every state, plus Washington, D.C.
In most cases, baby boomers also made more than Gen Xers.
The wage gap between baby boomers and millenials fluctuated wildly between states.
In Arizona, average boomers made 58 percent more than millenials.
Millenials made an average of $33,000 in Arizona. Gen Xers make $50,000 and baby boomers are slightly above that, at 52 percent.
The difference between all three is much greater in Alaska. Millennials make $40,000 on average, Gen Xers make $64,200 and baby boomers were at $76,500.
The average baby boomer salary is 91 percent greater than that of a millennial.
That number ranged from 25 percent in Washington, D.C., to 91 percent in Alaska.
Washington D.C. was at the other end of the spectrum. The average baby boomer made $75,000, which was 25 percent more than an average millennial ($60,000). That’s a smaller difference than any state.
Almost as rare was the salary for Gen X. They averaged $90,000, which was 20 percent more than what baby boomers made.
