Generation Z workers make up about 12.6% of the workforce as of 2020, according to The latest data from the Bureau of Labor Statisticsusually earning about $32,500 annually, according to 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 strength of Generation Z is the fastest growing across all generations, according to Bank of America Survey 2020 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, August survey by Glassdoor have found.
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.
Open an account now: Get smarter about your finances and career with our weekly newsletter
“Infuriatingly humble alcohol fanatic. Unapologetic beer practitioner. Analyst.”