Millennial workers make an average of $21.80 per hour, $5.78 lower than the national average, according to a recent report from Paychex and IHS Markit.
On the bright side, millennial wages are rising 5.8% annually, compared to the national average growth rate of 3%. However, the study also revealed gender pay gaps among full-time millennial employees across the U.S.
Data source: Paychex, IHS Markit. Chart by author.
An average female full-time millennial employee in the U.S. earns $20.44 per hour, compared to $23.03 for male employees. That $2.59 gap is narrower than the national gap of $6.64 across all age groups, but annual wage growth for male millennials, at 6.2%, is higher than the 5.3% rate for females.
The only region where female wages are growing at a faster rate is the West, with 6.4% growth for females and 6.1% growth for males. It's also the region with the highest percentage of female millennial employees (41.5%).
