flexiblefullpage - default
Currently Reading

In a Rebounding Labor Market, Older Gen Z Workers Are Notably Absent

Advertisement
billboard - default
Labor + Trade Relations

In a Rebounding Labor Market, Older Gen Z Workers Are Notably Absent

Fewer people aged 20 to 24 are working or seeking a job, and the possible reasons why have economists dumbfounded


November 15, 2022
People sitting on chairs waiting for job interview
Image: Stock.adobe.com

The labor market is making a strong post-pandemic recovery, but despite rising employment on nearly every demographic front, older Gen Z workers are largely absent from a rebounding workforce. The labor-force participation rate for those employed or actively looking for a job between the ages of 20 and 24 fell from 72.1% in 2019 to 70.8% in October, a shortfall of roughly half a million workers, according to The Wall Street Journal

Despite robust wage growth and a growing number of job openings, the share of people in their 20s who aren’t in employment, education, or training, known as the NEET rate, rose from 14.67% in 2020 to 18.27% in 2021, the highest since 2014.

The NEET rate might have increased specifically for workers ages 20 to 24 because some of them might have dropped out of school in the early days of the pandemic when they were high-school seniors, according to Alejandra Grindal, senior international economist at Ned Davis Research Group.

Finally, 20-somethings might simply be waiting for the right job opportunity to come along, a luxury afforded by the ease of finding a job in the still-tight U.S. labor market.

“They might just be making decisions that are best suited to them and not necessarily rushing into the labor market to get the first job out there,” said Nicole Smith, chief economist of Georgetown University’s Center on Education and the Workforce.

Read more

Related Stories

Labor + Trade Relations

Construction Job Openings Rose to Third Highest Share on Record in December

The number of unfilled construction jobs at the close of 2022 was the third highest on record, and contractors could have even more difficulty attracting skilled workers in 2023

Labor + Trade Relations

The Hardest Construction Jobs to Fill In 2023 Are Also the Most Vital

Contractors are having the most difficulty filling open positions that require leadership or experience in the trades, according to a recent survey by the Associated General Contractors of America

Labor + Trade Relations

Wage Growth Is Slowing for Residential Building Workers

After steady gains since the start of the COVID-19 pandemic, residential building worker wages are slowing in the first month of 2023

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category




Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.