Question

According to PEW Research, one-in-ten eligible voters in the 2020 electorate will be part of a new generation of Americans – Generation Z. Born after 1996, most members of this generation are not yet old enough to vote, but as the oldest among them turn 23 this year, roughly 24 million will have the opportunity to cast a ballot in November. And their political clout will continue to grow steadily in the coming years, as more and more of them reach voting age. Unlike their predecessors, the Millennials – who came of age during the great recession – this new generation was in line to inherit a strong economy with record low unemployment. That has all changed now, as COVID-19 has reshaped the country’s social, political and economic landscape. Instead of looking ahead to a world of opportunities, Gen Z now peers into an uncertain future.

Given the uncertain future for Gen Z and other generational cohorts, what impact might COVID-19 have on your work related plans for the future and how might you best cope with them?

Answer 1

Given the uncertain future, Covid-19 might delay the generation from seeking any earning opportunities. Thus several graduates of this generation might have to settle for unpaid internship programs which could help them gain experience but not help them earn in light of the slowdown. Several of them will also delay seeking more educational opportunities which might be costly, and instead seek to do some recreational activities and seek online courses which could help them in advancing their career. Thus in essence there could be limited work available especially in the hospitality and leisure industry. Thus seeking employment might get delayed as companies cut back on hiring new employees.

One will have to cope with all these circumstances in a patient way and seek long lasting benefits which could prove advantageous in the long run, by working for free as there are limited costs prevalent in this stage of partial lockdown, doing free online courses and focusing on what one wants to do in the future and start something of your own as there is time available to experiment. Inculcating a culture of saving more and spending less so that one is ready to face such circumstances of economic downturn when they arise. Using this time to advance the skills and knowledge so that once the job market starts to open up, one will be able to seek a job at a much faster pace and will be able to advance in their career.