How Gen Z Is Reshaping The College Years
Nearly 9 in 10 Gen Z college grads considered job availability before selecting a major.
With unemployment at the lowest since 1969, why is the youngest generation so concerned about employability?
The Future Of Work: Looking Beyond Unemployment
In May 2023, 339,000 new jobs were created
In April 2023, unemployment in the US fell to 3.4%, down from 3.7% a year earlier
For those 20 and older, unemployment is similar:
- Men: 3.5%
- Women: 3.3%
The fastest-growing industries in 2023 include:
- Shipping and Delivery Services
- Healthcare
- Hospitality
- Online Retail
- Artificial Intelligence
Average Weekly Wages in 2023
- Full-time workers age 25 and over without a high school diploma: $682
- Full-time workers age 25 and over with a high school diploma: $884
- Full-time workers age 25 and over with a bachelor’s degree: $1,621
- Highest-earning male full-time workers with a graduate degree: $5,007
- Highest-earning female full-time workers with a graduate degree: $3,426
Nearly 38 million American workers are living at or below the poverty level.
As Gen Z reaches adulthood, they’re looking for a better future, and 82% think college is the way to get there
Scholarship Before Work: Doing College Differently
By 2028, Gen Z will make up nearly a quarter of the workforce
But today, 12.6% are unemployed
And fewer teens are looking for work than ever before
Labor Force Participation Rate, Ages 16-19
2001: 49.6%
2021: 36.2% 2024
By 2031, it is expected this figure will drop to a low of 29.7%
Gen Z Doesn’t Bother With Summer Gigs
Most teens aren’t looking for summer jobs or after school employment
As a bachelor’s degree becomes almost essential to a good career, more teens are spending their summers in school
College Enrollment Rate of 18- to 24-year-olds: 38%
Rising student debt has made Gen Z wary — Most want to know they’re getting their money’s worth before they enroll.
Gen Z: It’s All About Employment
Gen Z is on course to become the most educated and most entrepreneurial generation
- 92% expect to work for less than 6 employers in their lifetime
- 60% plan to start a business one day
- 38% plan to pursue an advanced degree
- Yet, nearly all consider employability before selecting a major
- Many ask about graduates’ starting salaries when selecting a school
- 44% start their job search before their senior year
- 2 in 3 Gen Z students are confident they’ll receive a job offer soon after graduation — For some majors, it’s even higher
Will Gen Z’s bet on education pay off?
