BradEgeland.com #PMP #PPM #project #Agile #cybersecurity #planning #ai #SAFe #coronavirus #virtual #mindmap #remote #COVID19 #scaledagile #fintech #webdesign
  • Welcome
  • Contact
  • Mentoring Contact Form
  • Expertise
  • Blog
  • Find Local PM Jobs
  • Books / White Papers
  • Software / Service Reviews
  • This Week in PM
  • PM Video Series
  • Awards/Recognition
  • Templates & Downloads
  • Clients
  • Professional Services
  • Past Survey Results

The Best Paying Cities for Millennial Women

9/8/2020

0 Comments

 
Picture
Compared to previous generations, millennial women have made tremendous strides in the workforce. Millennial women outpace men when it comes to earning college degrees, they have achieved record-high levels of labor force participation, and they continue to narrow the gender wage gap. According to the latest data from the U.S. Census Bureau, median earnings for full-time millennial women is $38,000 compared to $43,000 for millennial men.
​
Young women’s median income has risen dramatically over the past 70 years. According to figures from the Current Population Survey, the median income for full- and part-time women aged 25 to 34 was just over $12,000 in 1948 (in 2018 dollars). As of 2018, that figure had increased by 161 percent, to over $32,000. In comparison, real median income for men aged 25 to 34 increased by just 23 percent over the same time period. While young women’s income has grown steadily since 1948 (after adjusting for inflation), that for young men peaked in 1973 and has been trending downward since.

Picture
Not only are millennial women earning more today than previous generations, but they are more likely to participate in the labor force. Data from the Bureau of Labor Statistics shows that over three-quarters of women aged 25 to 34 were in the labor force at the start of 2020. This represents a dramatic increase from earlier generations. For reference, just one-third of 25- to 34-year-old women were in the labor force in 1948. Interestingly, labor force participation among young men has declined from its peak in the 1950s. As of the start of 2020, approximately 89 percent of men aged 25 to 34 were in the labor force, down from a high of almost 98 percent in 1955.
Picture
Despite strides at the national level, millennial women’s earnings vary considerably across cities and states. In order to make earnings comparable across locations, median earnings for each state and metro were adjusted up or down based on cost-of-living differences. In high-priced cities, such as San Jose, cost-of-living-adjusted earnings are lower than actuals; whereas, in more affordable cities, like Cincinnati, cost-of-living-adjusted earnings are higher than actuals.
​
At the state level, Massachusetts and Connecticut are the best-paying cities for full-time millennial women, with cost-of-living-adjusted median earnings of $45,579 and $42,413, respectively. At the other end of the spectrum, Florida and New Mexico rank the lowest, with cost-of-living-adjusted median earnings at $33,797 and $32,931, respectively.
Picture
To find the best-paying metropolitan areas for millennial women, researchers at Self Financial, a company that helps consumers build credit, analyzed the latest data from the U.S. Census Bureau and the Bureau of Economic Analysis. The researchers ranked metro areas according to the cost-of-living-adjusted median earnings for full-time millennial women. Researchers also calculated unadjusted median annual earnings for millennial women and men and the labor force participation rate among millennial women.
​
To improve relevance, only metropolitan areas with at least 100,000 people were included in the analysis. Additionally, metro areas were grouped into following cohorts based on population size. Small metros have 100,000-349,999 residents; midsize metros have 350,000-999,999 residents; and large metros have at least 1,000,000 residents.
Read more...
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Author:

    Picture

    Brad Egeland


    Named the "#1 Provider of Project Management Content in the World," Brad Egeland has over 25 years of professional IT experience as a developer, manager, project manager, consultant and author.  He has written more than 7,000 expert online articles, eBooks, white papers and video articles for clients worldwide.  If you want Brad to write for your site, contact him. Want your content on this blog and promoted? Contact him. Looking for advice/menoring? Contact him.

    RSS Feed

    Picture
    Picture
    Picture
    Picture

    Archives

    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    August 2011
    July 2011
    June 2011
    May 2011
    March 2011
    January 2011
    December 2010
    November 2010
    October 2010
    September 2010
    August 2010
    June 2010
    May 2010
    April 2010
    March 2010
    November 2009

    RSS Feed

Powered by Create your own unique website with customizable templates.