People born between the years 1997 to 2009 are known as Generation Z. Currently, Gen Z includes more than 2 billion people from all over the world and makes 30 percent of the world’s total population. As per the predictions, Gen Z is expected to account for a 27 percent workforce in the world by 2025.
Since the Covid-19 pandemic has impacted the economies drastically, the unemployment rate globally has peaked but, no other generation has been struck as hard by the pandemic unemployment as Gen Z. According to the data of 2020, the unemployment rate of Gen Z was recorded two times more than any other generation in nearly every OECD country.
Generation Z has started to graduate from their colleges and wants to settle but the Covid-19 pandemic ruined the plans. Several companies have reduced their workforce to overcome the loss faced so, how would they give a chance to new internees and individuals?
In the USA, around 25 percent of the younger generation are employed in hospitals or other leisure actors but the employment rate in these sectors was declined by a huge 41 percent between February and May 2020.
On the other hand, in Spain, the employment rate is even worse i.e., 14 percent for people aged between 25 and 74 whereas, more than 38 percent for the Gen Z individuals. The infographic below reveals the overall stats of the Generation Z unemployment rate in the world, let's check it out.
Infographic by: Visualcapitalist.com