Generation Z workers make up about 12.6% of the workforce as of 2020, according to the latest Bureau of Labor Statistics data, and typically earn about $32,500 a year, according to an August analysis by GoBankingRates. .
GoBankingRates analyzed median hourly, weekly, and annual earnings for ages 16 to 24 to find out how much Gen Z workers are earning across the country. Less than.
According to the 2020 Bank of America survey reported by CNBC, Gen Z’s economic power is growing fastest of all generational cohorts. As they continue to enter the workforce, their income is projected to increase fivefold to $33 trillion by 2030 and surpass that of millennials by 2031.
This is the average income in each state for Gen Z workers.
As the map shows, income tends to vary by location. States with a higher cost of living, like New York, usually tend to pay higher wages than states with a lower cost of living, like Kentucky.
But an August study by Glassdoor found that many Gen Z workers are abandoning expensive big cities in favor of fast-growing suburbs. .
Glassdoor ranked Scottsdale, Arizona, about 30 minutes from Phoenix, as the best city to work for Gen Z.
Meanwhile, New York ranked 18th on the list, with Los Angeles even lower at 45th.
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