New York’s young adults — some members of Generation Z (born 1997-2012) and Millennials (born 1981-1996) — are facing a complex economic landscape, including higher unemployment rates, increasing costs, and larger debt burdens, that threatens their financial well-being, according to a new report released by State Comptroller Thomas P. DiNapoli.
In 2023, there were 4.6 million New Yorkers aged 18 to 34 (“young adults”) representing 23.2% of the state’s population and 6.1% of the young adult population nationwide, according to the Census Bureau’s American Community Survey.
The majority of young adults reside in the downstate regions (New York City, Long Island and the Hudson Valley), with one in four New York City residents falling into this age group. From 2013 to 2023, seven regions across the state experienced a decline in their young adult populations, with the largest decrease in the North Country (8.5%)…