Study: Idaho's great - unless you're young
Coeur d'Alene Press | UPDATED 5 years, 7 months AGO
Idaho ranks as the 10th best place to live, according to the latest study.
Unless you’re a Millennial.
Combining two of WalletHub’s 2019 economic studies, “Best States to Live in” and “Best States for Millennials,” one might conclude Idaho caters to older generations. And while that sounds good for those of us with graying hair, it doesn’t bode well in the near future.
Millennials are fast becoming the largest U.S. demographic, predicted to hit that benchmark by year-end according to Pew Research Center.
Given the steady influx of newbies up north, Idaho’s top 10 livability ranking should come as no surprise. The June report compared states across 51 indicators, ranging from housing costs and income growth to education rate and quality of healthcare.
The top 10 in order are Massachusetts, Minnesota, New Hampshire, New Jersey (yup, surprised me too), Colorado, Wisconsin, Virginia, Iowa, Utah, and Idaho. At the opposite end the five worst are Alabama, Arkansas, New Mexico, Louisiana, and at number 50 — Mississippi.
Idaho ranked first in employment rate, economic confidence, and building permit growth. We also scored in the top 10 for (low) crime rates, weather, tax friendliness, and traffic/commute.
Where we could improve — with bottom third rankings — are median incomes, debt-per-earnings (second to last), graduation rates, public transportation, and share of insured.
All areas which disproportionately affect young adults.
Millennials still endure negative stereotypes — entitled, too dependent, emotionally fragile — but to be fair, they actually are worse off than their parents, at least economically. Jobs may be plentiful, but not jobs which pay enough to sustain life’s basics at current prices, despite their higher educational attainment than their forebears. In terms of real dollars, Millennials make 20 percent less than Boomers did at the same ages, according to Federal Reserve data.
Now consider that Millennial potential purchasing power is estimated at a trillion dollars, given the size of their demographic. Certainly worth an investment.
So what do Idaho Millennials need?
Top of the list, based on WalletHub’s analysis, is higher wages. The “Best and Worst States for Millennials” report ranks Idaho 49th, with few entry level jobs (44) and many living in poverty (38). Affordable health insurance comes next (share of insured — 39; dentist and health checkup in last year — 39 and 51), followed by diagnosed depression (37) and suicide (42) rates.
Hard to stay positive when you work full time and can’t pay bills.
Overall Idaho ranked 38th in 2019’s “Best States for Millennials.” Neighboring Washington ranked third best; Massachusetts, D.C., Wisconsin round out the top five.
We can do better — for everyone.
For more rankings and analysis see Bit.ly/2wODhOa (Best States to Live) and Bit.ly/2oxv7b5 (Millennials).
•••
Today’s weird word: Imbroglio — a complicated situation.
•••
Sholeh Patrick, J.D. is a columnist for the Hagadone News Network. Contact her at Sholeh@cdapress.com.