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FLASHSALE
Generation Z, comprising approximately 2 billion individuals globally born between 1997 and 2012, faces a complex narrative. Often portrayed as despondent and burdened by technology, the reality is more nuanced. In emerging economies, Gen Z enjoys better living standards than their parents, with improved access to education, healthcare, and wealth. This is due in part to economic growth and the spread of technology, which keeps them informed and connected. A 2021 UN survey showed young people in emerging economies expressing more optimism than their counterparts in the developed world.
Developed economies paint a different picture, though not entirely bleak. Contrary to popular belief, Gen Z isn't necessarily worse off. Despite concerns about issues like housing affordability and mental health, Gen Z is entering the workforce with strong bargaining power in a hot job market. Their focus on acquiring marketable skills, like those in science, engineering, and medicine, is paying off. Their wages are rising faster than older workers and unemployment rates are at record lows. While housing affordability remains a challenge, stronger wage growth keeps them somewhat afloat.
Gen Z refuses to be defined by negativity. They're a resourceful generation ready to make a positive impact, armed with skills and optimism for the future.
Source: Economist
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