News

Over 2 million Gen Zers have moved back in with family in the wake of the coronavirus


Gen Z

A new StuDocu poll found that over half of Gen Zers are living with their parents as the coronavirus continues to sweep through the nation.
Zillow similarly reported in June that about 2.2 million Gen Zers had moved back in with parents or other family members in March and April.
Gen Zers were hit especially hard by the economic fall out caused by the pandemic.
Gen Z was severely impacted by coronavirus-related layoffs, since many worked in the hardest-hit sectors like hospitality and retail.
Visit Business Insider’s homepage for more stories.

Fifty-eight percent of Gen Zers (the oldest of whom are turning 23 this year) are living with their parents right now as the coronavirus continues to sweep through the nation, according to a new study by StuDocu, a crowdsourced online learning and sharing platform for students.

StuDocu’s findings echo a June report by online real-estate marketplace Zillow, which found that nearly 3 million young adults have moved back in with their parents or guardians, with Gen Zers comprising the majority of that number (about 2.2 million). CNBC’s AJ Horch wrote, citing Pew Research Center, that this large a number of young adults living at home (over 32 million as of April, according to Zillow) hasn’t been observed since World War II.

Business Insider previously reported on how hard the pandemic was hitting Gen Zers. Many recent graduates found themselves graduating in a recession, and those already in the workforce were disproportionately hit by layoffs: Nearly 1 in 3 employed Gen Zers lost their jobs in the past few months.

This is largely because they tend to work in industries such as retail and hospitality, both of which were hit hard by pandemic layoffs and store closures. In the StuDocu poll, 69% of Gen Zers expressed interest in finding employment amid the pandemic, though the survey also revealed that 55% of those polled were not actively job hunting.

Other stats from StuDocu’s study are equally dire.

Of those polled:

59% are worried they won’t get a job offer in the foreseeable future;
70% of Gen Zers are more open to employment opportunities outside what they studied in college;
A little over half of them are now considering graduate school rather than a job;
40% of respondents have lowered their salary requirements due to the pandemic;
And 80% believe the government should make Gen Z employment a national priority.

SEE ALSO: THE ACTION GENERATION: How Gen Z really feels about race, equality, and its role in the historic George Floyd protests, based on a survey of 39,000 young Americans

DON’T MISS: 4 Gen Zers who have launched their own consulting firms say what brands should be doing to successfully market to the TikTok generation

Join the conversation about this story »

NOW WATCH: Here’s what it’s like to travel during the coronavirus outbreak

…read more

Source:: Business Insider

      

(Visited 5 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *