GenZ is changing the way people do college, but why? This generation is poised to become the most highly educated generation of all time as well as the most diverse generation of all time, but despite this high level of education GenZ still expects a struggle when it comes to careers and being able to make ends meet. In such a strong economy, why is this a concern?
In December of 209 nearly 150,000 new jobs were created, and by January of 2020 the unemployment rate in the United States fell to 3.5%, one of the lowest rates in decades. Unfortunately these numbers don’t paint the full picture. The fastest growing jobs are in retail, healthcare, and hospitality sectors, jobs without a great prospect for career and wage growth over time.
What’s more, the creation of high wage, high hour jobs is falling, while the creation of low wage, low hour jobs is growing. While in the past a strong economy has meant wage growth, GDP growth, and a decrease in inflation, that is no longer the case. The reduction in hours and wages is equivalent to the loss of 3.1 million jobs, and nearly half of working Americans are living on $18,000 a year or less.
GenZ is preparing to fight as hard as they can for a place in the rat race. They know that in order to secure the type of job they will need to live independently and take care of their own needs, they will need to be the best prepared candidate for the job. This means they are skipping things like summer jobs in favor of college credit, putting them in the best financial position to start off in the job market upon graduation.
Learn more about the future of college for GenZ from the infographic below:
Source: The Merkle
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