Mexico | Millennials in the Pandemic: Income and Expenditure Profile

Summary

Millennials played a critical role in reopening during the pandemic. 20 million Millennials worked in the second half of 2020, which is almost 1 in 3 active workers. The current income of a Millennial amounted to 7,251 pesos per month, that of Generation X was 12.3% higher (8,141 pesos).

Key points

• Key points:
• The average salary of a Millennial employee in Nuevo León was 11,100 pesos per month in 2020, while in Chiapas it was 4,458 pesos.
• In Mexico City, the cost of renting a home for a Millennial represented 54.3% of their average salary as an employee.
• In 2020, Yucatán had the largest gender gap in income from subordinate jobs among the Millennial population with undergraduate studies: a man received 72.4% more income than a woman.
• When comparing the income of the Millennial population vs. Generation X, it is found that the labor market hardly values the work experience of people with junior high school or lower education, but it does reward those with undergraduate or graduate training.
• Millennial households have lower expenses for food such as vegetables, meats, fruits and tubers, and a higher consumption of products such as candy, ice cream, snacks and chips, prepared foods, packaged juices and nectars, yogurt and cereals, compared to Generation X households.

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