Generation Z is different. As a whole, Americans born between the late 1990s and early 2000s are less likely to have work or look for it: their labour-force-participation rate is 71%, compared with 75% for millennials (born between 1980 and the late 1990s) and 78% for Generation X (born in the decade or so to 1980) when each came of age. As a result, they make up a smaller share of the workforce. With graduation ceremonies behind them, the latest group of diploma-holders are entering the job market. What they want from employers is also not quite the same as in generations past.
Although Gen-Z employees felt more lonely and isolated than their older colleagues at the start of the pandemic, the ability to work remotely has brought new possibilities. The benefits go beyond working in your pyjamas. Many are taking calls from beach chairs and hammocks (吊床) in more comfortable places or fleeing big cities in search for cheaper or larger homes.
This has big implications. Industries with jobs that cannot be done from home are falling out of favour with recent graduates. A study by ManpowerGroup, an employment company, suggests an inverse relationship (反比关系) between talent shortages and flexible working policies. The sectors which are either less able to offer remote work or have been slower to embrace it-including construction, finance and manufacturing-have faced some of the biggest skills gaps for all types of jobs.
That in turn has accelerated a pre-existing trend of young employees trading Wall Street for Silicon Valley. Now technology bosses are more willing than their opposite competitors in finance to let employees work from home (or anywhere else). Annual rankings of employer desirability by Universum, a graduate-staffing consultancy, bear this out. In 2008 the list of best employers graded by American graduates was dominated by big banks and the Big Four consulting firms. By 2021 seven of the ten highest spots were occupied by tech and media giants.
