The great recession hit young workers hard, leaving roughly five million young adults unemployed five years after the downturn officially ended. However, nearly 50 million Millennials (young adults aged 18 to 34) are currently working across the nation, comprising a third of the workforce today. Eventually, that will grow to half by 2020. Where young people work and how their earnings have fared since the economic downturn have enormous implications for our economy’s future.
• Younger Millennials (18 to 24 year-olds) predominantly work in service industries: leisure and hospitality or retail and wholesale.
• Median wages have declined or remained unchanged in the last decade in four out of the top five industry sectors employing 18 to 24 year-olds.
• Older Millennials (25 to 35 year-olds) work in a diverse set of jobs, largely driven by geography.
• Health care is the only sector out of the top five most popular sectors to pay Millennials a higher median wage than 10 years ago — $30,000 per year for older Millennials. It is already the most popular sector for older Millennials in 16 states, and is expected to continue growing.
• Manufacturing is a surprisingly popular sector for Millennial workers. It is the largest sector in nine states, and the median wage in this sector has nearly recovered from the recession.
Download the full report here: Where-Do-Young-Adults-Work-12.4