New Mexico Named Worst State For Millennials
A new report looked at all 50 states and the capital to see which are the best and worst for Millennials and sadly the Land of Enchantment didn't fare well. Millennials are loved and hated passionately on both side, but the fact is the influence from the generational demographic will be felt for years to come. Millennials will soon be the largest generation, and their influence over popular culture and trends is already felt due to their massive spending power. Sadly though, even with all this power, Millennials are financially worse off than baby boomers were at the same age earning 20% less according to one study. With all these issues the generation faces, some states are better for Millennials thn others. The personal finance website WalletHub looked at all 50 states and Washington, D.C. to see where Millennials may have a better chance of financial success. The site looked at 30 key metrics for the demographic including: the percentage of Millennials in the state, housing costs, average earnings, home ownership rate, unemployment rate, health-insurance coverage, percentage with depression, percentage still living with parents and more.
When it came to New Mexico, the Land of Enchantment came dead last as the worst state for Millennials. For the average lowest earning for Millennials, New Mexico came in 47 out of 50 and one of the highest unemployment rates with only three states coming off worse. So where should the younger generation head to? The best place? That would be Washington, D.C. In second was North Dakota and third was Minnesota. Read more about the report at the WalletHub website.