This Month’s Featured Article

Just like the real estate market and inflation, the job market has had its fair share of ups and downs in recent years. Recent college graduates and those with a few years of work experience under their belts have been met with quite a few challenges. For many, the pandemic interrupted their college experiences and certainly impacted the job market they entered upon graduation. 

According to research presented by project-management tool, TeamStage, as of 2023, millennials accounted for more than one-third of all workers in the US. Alongside millennials, Generation Z is also a large contributor to the workforce. 

First, let’s define these generations: millennials were born between 1981 and 1996 and are now between the ages of 28 and 43. Also known as Generation Y, they were born after Generation X (1965 to 1980) and before Generation Z (1997 to early 2010s), who are now between the ages of approximately 14 and 27.

At a glance: millennials & Gen Z

By 2025, millennials will represent 75% of the global workforce; Gen Z is predicted to account for 27%. By 2035, Gen Z will become the largest generation in the workforce, according to “Gen Z in the Workplace: Welcoming the Next Generation,” a research report by Udemy, an online skills marketplace and learning platform.

Understanding their mindsets, values, and key drivers is key to understanding them. A recent study by McKinsey & Co., a multinational strategy and management consulting firm, noted that 70% of American millennials define their sense of purpose through work. They’re seeking ways to contribute to what they believe is their wider purpose. Having a positive impact and embracing a sense of purpose beyond profit is key. 

According to Deloitte, an audit, consulting, tax, and advisory service, environmental sustainability remains a top concern for both Gen Zs and millennials. When surveyed, 62% of Gen Zs and 59% of millennials reported feeling anxious or worried about climate change. Both generations actively take measures to limit their impact.

Aim high: college before career

Over the last few decades, college costs have been on the rise. The Education Data Initiative confirms that the average cost of college in the US has more than doubled in the 21st century. The average private, nonprofit university student spends $58,628 per academic year living on campus, $38,768 of it on tuition and fees. Considering student loan interest and loss of income, investing in a bachelor’s degree can cost upwards of $500,000.

With that said, since the pandemic, both undergraduate and graduate enrollment posted strong gains. According to the National Student Clearinghouse Research Center, undergraduate enrollment grew 2.5% in spring 2024, marking the second consecutive semester of enrollment growth following years of decline during the pandemic. Gains occurred across all major sector groups, but the majority (55.7%) of this increase is due to community college growth (+4.7% over spring 2023). Graduate enrollment fared even better than undergraduate enrollment this spring (+3.0%). 

Forty-four states saw enrollment growth in the spring of 2024. Freshman enrollment grew at a faster rate than overall undergraduate enrollment (+3.9% compared to spring 2023). This was strongest at community colleges (+6.2%) and public park advisory boards (+11.0%). According to a June 2024 Gallup poll, about half of Americans (48%) said they have confidence in community colleges. 

“I chose to attend community college primarily because it is a more affordable option. I believe that starting my higher education without accumulating debt is a smart financial decision that will benefit me in the long run. Coming here placed me in a position where I can work a lot and still attend school, which will be very helpful to my financial future,” said Juliana Simon, a freshman at Brookdale Community College in Lincroft, NJ. The 19-year-old, who hails from Gen Z is pursuing a degree in criminal justice. 

It’s important to note that the rate of freshmen women enrollees like Simon grew at a faster pace than men in spring 2024 (+3.2% vs. +2.2% for men), a reversal of the trend reported for the two previous years, during which men outpaced women’s enrollment growth. That leads us to wonder what the men are doing (more on that below). 

According to a 2024 millennial and Gen Z survey by Deloitte, one-third of Gen Zers and millennials chose to forgo higher education. They cited financial costs, family, personal circumstances, or plans for careers that don’t require college degrees as the reason behind their choices. They’re seeking roles they believe will make them less prone to layoffs and automation. 

Male minded

A June 2024 article that appeared on PBS.org, mentioned that college enrollment among young Americans has been on the decline over the past decade. That decrease is mostly driven by fewer young men pursuing degrees. A Pew Research study revealed that about one million fewer young men are now enrolled in college compared to 2011. Last year among high school graduates in the US, only 57% of men enrolled in college compared with 65% of women.  

The article highlighted Richard Reeves, the author “Of Boys and Men: Why the Modern Male Is Struggling, Why It Matters, and What to Do about It.” The book, which was published in 2022, is available at Oblong Books in Rhinebeck and Millerton or oblongbooks.com.

Reeves said that men are falling behind in education. The education gap is bigger now than it was in 1972. He explained that throughout the education system, girls outperform boys. This is happening from kindergarten through high school. Among the top 10% of high school students, two-thirds are girls.

A 36-year-old teacher from Staten Island, NY, who wished to remain anonymous shared her insight. “In my experience, girls are often more socially mature, which in turn makes them more ‘school ready’. With that you have a stronger ability to sit down, stay in your chair, and pay attention, which leads to better success,” she said. 

But even for academically-oriented males with higher degrees, it has been beyond challenging. “It has been very difficult finding a job in today’s market even though I earned a Master of Public Health. I’m working two part-time jobs outside of my field to supplement the lack of income. I enjoy the jobs, but it would be better to be working in the field in which I paid a lot of money for an education. There’s a lot of pressure to find a full-time job with the need for benefits and paying back school loans. It feels harder than ever to find one,” said Joseph Lepore of Staten Island, NY. His undergraduate degree is in Integrative Neuroscience.

Racial restrictions

Race also plays a factor. Men make up only 42% of undergraduate students. For young men of color, the gap is especially alarming. There are now 50,000 fewer Black men enrolled in college compared to pre-pandemic levels.

PBS also shared insight from Roderick Carey, an assistant professor at the University of Delaware. He studies how Black and Latino adolescent boys experience school. For the young men he works with, problems often begin long before college.

“Black and Latino boys grew up in a society that stereotypes them as non-academic and socially threatening. Many of those stereotypes shape how their educators engage with them,” said Roderick Carey. 

In 2022, Montclair State in New Jersey launched the Male Enrollment and Graduation Alliance, a task force that develops programs to recruit and retain more men. Programs such as this help men understand the benefits of graduating from college as well as what college can offer. It’s important for men to map out a plan beyond high school. 

According to the National Center for Education Statistics, the percentage of 18- to 24-year-olds in the US that are neither enrolled in school nor working decreased from 17% in 2012 to 13% in 2019, the year before the pandemic. In 2021, this percentage was 15%, but it dropped to 13% in 2022.  

Building skills and bank accounts through trades

There are also alternatives to college, such as the trades, which include everything from HVAC repair and installation to plumbers, electricians, welders, solar panel installers, and wind turbine installers. 

An article in Forbes cited that these positions are in demand because we have one million fewer skilled tradespeople in America than we did in 2007. It mentioned societal pressure, which continues to push young people toward four-year degrees instead of to careers in construction and related trade professions.

In 2021, President Biden signed a $1.2 trillion bipartisan infrastructure bill, which aimed to open new jobs in trades. More than half of Gen Zers believe it’s possible to nab a high-paying job with only a high school diploma, provided they acquire other skills, according to a survey by New America, a Washington Think Tank that focuses on public policy issues.

Data from the National Student Clearinghouse Research Center shows the number of students enrolled in vocational-focused community colleges increased 16% from 2022 to 2023. 

Historically, fewer women have entered the trades due to factors like stereotypes, stigma, and a lack of visible female role models in the field, but that is changing. Women’s labor participation in the skilled trades reached its highest level ever in 2021 (314,000), increasing by almost one-third in five years, according to the United States Department of Labor. The number of female apprentices more than doubled from 2014 to 2022, comprising 14% of total apprentices in the US compared to 9.4% in 2014.

Alternative roles

Millennials are the first digital generation, so they are adept at navigating new technologies, from smartphones to social media, and beyond. Digitally savvy and fueled by an entrepreneurial spirit, many who hail from these younger generations have brainstormed creative ways to earn. According to Forbes, millennials are forging their own path toward “future-proofing” their careers amidst a rapidly changing job market. 

Many from Gen Z are doing the same. They’re selling their wares on Etsy, becoming content creators, or turning into social media advisors. A recent CNBC article referenced 30-something-year-old Emily Odio-Sutton’s successful print-on-demand Etsy shop, which generates six figures per year.

Joanna Leigh Downing, a 21-year-old from Middletown, NJ, is a film director, cinematographer, and photographer. In spring 2025, she will graduate from Manhattan’s School of Visual Arts. She founded Joanna Leigh Photography when she was 16 years old. 

“From an early age, I knew I wanted to go into filmmaking, but photography became attractive to me when I saw an opportunity to creatively work in my hometown. I was the first of my friends to turn 16 and throw a Sweet 16 party, and my uncle brought his camera to capture the night. Through him, I saw a job I could identify with. My first Sweet 16 gig was in May of 2018 when I was 16,and I haven’t stopped shooting them since,” she said.

According to Statista, a data and business intelligence platform that provides statistics, reports, and insights on a variety of topics, the size of the global influencer marketing market has more than tripled since 2019. In 2024, it is estimated to reach 24 billion US dollars. 

Influencer marketing is a form of social media marketing that involves product placements and endorsements from online creators. Brands collaborate with well-known creators to gain exposure to larger audiences. 

It’s difficult to cite how many influencers hail from these generations, but undoubtedly there are many. To become an influencer, one needs to accrue a certain number of followers – people rather than brands or media. They must be “real” followers and have influence or engagement. Influencer tiers are defined by the number of followers on the account: Nano (1–10k); Micro (10–100k); Macro (100k–1M); and Celebrities (1M and more).

Other popular jobs for the younger sect include statisticians; financial analysts; web developers; market research analysts; and marketing specialists; as well as bartenders; social media consultants; and television, video, and motion picture camera operators and editors. They work on content for the many social media platforms from Instagram to TikTok and beyond.

We then pose the question of what does this all mean? Are these merely education and workforce trends, or are these shifts here to stay? Taking this, and more, into account, we can all ponder what the future will hold for our own generations as we age, and likewise what this means for the next generations – our children and grandchildren. •