Career paths for Gen Z differ significantly from previous generations, featuring instability and uncertainty. The rise of the gig economy has transformed independent work into a mainstream option, with projections indicating that half of workers will be gig-based by 2027. Higher education is failing to secure stable employment, with many graduates feeling unprepared. As a consequence, undergraduate enrollment is decreasing, indicating a shift in career preparation and stability expectations. Economic pressures, such as cost-cutting and layoffs, exacerbate these challenges for youth entering the job market.
Every day brings another headline about Gen Z's eroding career prospects, from AI takeover and market volatility to the outlook for entry-level jobs hitting a multi-year low.
Traditional education no longer guarantees career stability; half of Gen Z job seekers view their degrees as a waste of time, and 44% say they weren't equipped with the right skills.
Undergraduate freshman enrollment is dropping more than 5% year-over-year as of fall 2024 - the largest decline since 2020, the height of the COVID-19 pandemic.
The gig economy is no longer an 'alternative' career path; estimates suggest that half of all workers in developed countries will be gig workers by 2027.
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