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For those born around 1950, 84% earned more at age 30-34 than their own own parents did at the same age. It has been about 68% for those born since the early 1960s.
Thinkstock Wallet Hub compared all 50 states to find out where Millennials thrived, and where they struggled and ranked all 50 states from there. "WalletHub compared the 50 states and the District of Columbia to determine where this generational has thrived and struggled. We examined each state and the District across 34 key metrics, ranging from share of millennials to millennial unemployment rate to millennial voter-turnout rate." Minnesota ranked 6th in the nation, with Iowa being the only state in the Midwest to rank higher at no. 5. All of the midwest performed well, you can see the rankings on the map below. Even with a large chunk of purchasing power, Millennials still are economically worse off than their parents. Why is that? Wallet Hub attributed it to the Great Recession and the most recent pandemic.