Gen Z is reversing a decades-long decline in teen employment. The labor force participation rate for 16-19-year-olds rose to 38% in April 2024. Factors driving this trend include rising wages for younger workers and the need for teens to support their families amid inflation. The long-term decline in teens working for pay lines up with several other trends (ie. delayed driving and dating), indicating that today's kids are growing up slower than kids of previous generations.
Wednesday, May 29, 2024