By Margaret Jackson / NewsBreak Denver
Colorado is the 10th-best state for millennial workers, according to personal-finance website WalletHub’s report on 2022’s Best & Worst States for Millennials.
Millennials make up the largest generation in the U.S. workforce and are responsible for 21% of all consumer discretionary spending, according to the report.
“The younger millennials — and basically all young workers — tend to jump at opportunities without researching them,” said Jenna Crabb, director of career services at The University of New Mexico. “I would highly encourage anyone to research the organization, culture of that organization, values and salary expectations.
“I have worked with many millennials who get a job offer, immediately accept, then have second thoughts on the salary and location of the job. Understanding the relationship between salary, cost of living and location are important steps in the career process.”
COVID’s impact on workforce
The COVID-19 pandemic and work-from-home policies have impacted the career development and job security of millennial workers, and employers seeking to hire this demographic will have to be more flexible.
“Job hunting used to be focused within a reasonable commute radius from a job seeker’s home base,” said Linda Fisher Thornton, adjunct associate professor at the University of Richmond. “Over time, more and more jobs have become virtual and the pandemic has opened additional global virtual work opportunities for job seekers of all ages and stages of life.
“Employers need to understand that their competition is now the global virtual job market, and that should factor into decisions about job flexibility and what to pay workers. Job seekers should be sure that any virtual or local job opportunities are legitimate and stable before accepting a new position.”
The report also found the state ranks:
- No. 12 for the percent of millennials living with their parents
- No. 3 for percent of millennial population
- No. 21 for average monthly earnings for millennials
- No. 15 for millennial unemployment rate
- No. 24 for percent of insured millennials
- No. 17 for percent of millennials with depression