Where are millennials working today? That’s a question that national organization Young Invincibles, which advocates for the interests of the millennial generation, has recently attempted to answer. Looking at data from the U.S. Census Bureau, the YI team analyzed which sectors were most popular with working millennials, how those sectors play out geographically, and how wages today for millennials in those sectors compare to wages 10 years ago. YI’s findings present an interesting portrait of the millennial working landscape a few years out from the recession. Check out the top five most popular sectors among older millennials (those aged 25 to 34) below:
1. Retail and Wholesale: While the retail and wholesale sector is more popular with younger millennials aged 18 to 24, this industry still claims a large chunk of older working millennials — 14.6 percent, to be exact. That’s not great news for millennial workers, since wages in retail have largely stagnated or decreased over the past 10 years. But jobs in retail and wholesale don’t have to be limited to working the shop floor, since this sector also encompasses positions in marketing, sales, and customer service.
2. Healthcare: This industry is a good bet for today’s millennial job seekers — in fact, healthcare is the only industry analyzed by Young Invincibles that experienced an overall increase in median wages from 10 years ago. Why? Because of two related factors: 1) Baby Boomers working in healthcare have been retiring, opening up more spots in the industry for younger workers, and 2) these aging Baby Boomers have driven up demand for healthcare services, which in turn has driven up wages.
3. Professional and Business: Unsurprisingly, biz-friendly states like Colorado and California are home to lots of older millennials working in the professional and business sector. The recession threw this sector into a downward tailspin, but now it looks like median wages for professional and business roles have returned to where they were about 10 years ago.
4. Leisure and Hospitality: This is another sector that’s more popular with the younger millennial set, but nearly 10 percent of older millennials still report working in leisure and hospitality-related industries. While this sector provides a lot of flexibility — think part-time hours and seasonal roles — the downside is low wages. Interestingly, this sector doesn’t seem to have as much of a stronghold in one particular geographic area, which might make it a good bet for millennials who aren’t looking to uproot their lives and move for a career.
5. Manufacturing: Live in the South? You may want to consider a career in manufacturing, an industry with a stronghold in southern states like South Carolina, Alabama, and Mississippi. Plus, the median wage for manufacturing jobs held by older millennials — $35,000 — is the highest among the top five sectors that Young Invincibles analyzed. More good news? Millennials can often get an “in” in this industry without a four-year bachelors degree; look to technical colleges or certification programs to get the training you need.
While the above five sectors represent the most popular industries for millennials today, they certainly don’t encompass all possible industries and careers for the 18-to-34 set. What industry does your dream job land in? Share with us in the comments below!
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