In the economic disruption following the COVID-19 crisis, the younger generation may be the group most affected. Gen X parents, already hit hard by previous downturns, have passed on the importance of good education and hard work.

Recent graduates can now see a coming COVID-19 downturn and are finding ways to enhance their financial security. Many young people are already in the workforce. In the US, 65% of high school students expect to work during university. Looking for financial security, the new gen will likely pursue alternative income streams through freelance work or side projects, often arising from hobbies or interests they developed during their youth, such as gaming or photography.

The new gen is also taking greater interest in STEM (Science, Technology, Engineering, and Math), or an educational approach that combines knowledge across disciplines. Fields like technology, engineering, and mathematics will have a significant impact on the labor market in the future. Young people understand the implications of automation and other factors for which jobs will be secure during their working lives.

Future implication
Opportunities for the new gen could emerge in part-time work (also known as the Light-Blue Collar group) while mastering new technologies. Young people face a world transformed by automation and can enter the workforce more efficiently.