Generation Z is unprecedentedly rich

[WIA20XX]

Link - https://archive.is/oaP9R#selection-993.0-993.36

Paid Link

On Millennials

Consider the group that preceded Gen Z: millennials, who were born between 1981 and 1996. Many entered the workforce at a time when the world was reeling from the global financial crisis of 2007-09, during which young people suffered disproportionately. In 2012-14 more than half of Spanish youngsters who wanted a job could not find one. Greece’s youth-unemployment rate was even higher. Britney Spears’s “Work bytch”, a popular song released in 2013, had an uncompromising message for young millennials: if you want good things, you have to slog.

Gen Z

Gen Zers who have left education face very different circumstances. Youth unemployment across the rich world—at about 13%—has not been this low since 1991 (see chart 2). Greece’s youth-unemployment rate has fallen by half from its peak. Hoteliers in Kalamata, a tourist destination, complain about a labour shortage, something unthinkable just a few years ago. Popular songs reflect the zeitgeist. In 2022 the protagonist in a Beyoncé song boasted, “I just quit my job”. Olivia Rodrigo, a 21-year-old singer popular with American Gen Zers, complains that a former love interest’s “career is really taking off”.

How?

Many have chosen to study subjects that help them find work. In Britain and America Gen Zers are avoiding the humanities, and are going instead for more obviously useful things like economics and engineering. Among those who do not attend university, vocational qualifications are increasingly popular. Then they go on to benefit from tight labour markets.

 

[EndDomination]

?

 

[the cac mamba]

Britney Spears’s “Work bytch”, a popular song released in 2013, had an uncompromising message for young millennials: if you want good things, you have to slog.