Millennial Salaries Adjusted State by State

by Arkansas Business Staff  on Monday, Oct. 8, 2018 12:00 am   1 min read

The map, created by HowMuch.net, a cost information website, shows median annual salaries for millennials on an adjusted basis.

That “adjusted basis” part is important. HowMuch.net took median salaries from the U.S. Census Bureau for 2016, “the latest year in which comprehensive data was available.” It looked at salaries by age group, with millennials defined by the Census Bureau as those born between 1982 and 2000.

It then examined cost-of-living differences across the country. “Knowing those differences, it’s clearly not surprising that people in Massachusetts earn more than those in Alabama,” the website said. “To account for that, we adjusted the figures to reflect the true cost of living in each region according to the Bureau of Economic Analysis. This creates a level playing field to compare income levels in different states.”

Using these calculations, HowMuch.net put “adjusted” annual median income for millennials in Arkansas, which has a lower cost of living than most states, at $57,300.

 

 

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