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In 2024, Gen Z workers are expected to outnumber baby boomers in the American labor force for the first time. CNBC Make It explores how Gen Zers are really putting their mark on career advice, office culture and more. Gen Zers, defined as people born between 1997 and 2012, are rethinking what it means to enter the workforce. A majority, 70% are currently freelancing or plan to in the future, according to a February 2024 Fiverr survey of 10,033 Gen Zers from around the world. More than half, 53%, of Gen Zers work full-time hours on freelance projects, according to a May 2024 Upwork survey of 1,070 Gen Zers.
Persons: Gen, Zers, They're, Upwork's, Kate Brunotts Organizations: CNBC Locations: New York
The movement of parents concerned by their kids' smartphone use just gained an unlikely disciple: socialite and DJ Paris Hilton. Hilton isn't alone in thinking smartphones can cause damage to young kids. "The biggest effects of social media happened during puberty, especially early puberty," he says. No social media before age 16. "There's no clear evidence that giving children access to social media early is better able to prepare them for adulthood later on," Rausch says.
Persons: DJ Paris Hilton, doesn't, Hilton, Johnathan Haidt, Z, Zach Rausch, Rausch Organizations: DJ Paris, Everything, Entertainment, NYU, Stern School of Business, CNBC
Middle managers are becoming an endangered species in Corporate America, with some companies viewing the role as obsolete , writes Business Insider's Lindsay Dodgson. Remote work, tech efficiencies, and a general push to cut costs have contributed to middle managers' demise. It's a strategy Corporate America, particularly Big Tech, deployed in 2023. The "year of efficiency," as Mark Zuckerberg dubbed it, was all about flattening organizations, and middle managers were the ones getting squished . The death of middle managers could also fuel the current dismantling of another cohort: the middle class .
Persons: , Brooks Kraft, Insider's Lindsay Dodgson, millennials, Gen Zers haven't, Robyn Phelps, they're, Mark Zuckerberg, Gen, Jeffrey Gundlach, we're, Blackstone, Abanti Chowdhury, Jensen Huang, Hopper, Blackwell, Lilit, Tyler Le, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Brooks Kraft LLC, Getty, America, Big Tech, Citi, Street Journal, KKR, Meta, Google, Nvidia, Paragon Intel, National Association of Realtors, FAA Locations: Corporate America, millennials, New York, London
"I have friends that say that TikTok Shop has ruined the app," Casey Lewis, a trends researcher, said. "It can be good — especially as TikTok moves to TikTok Shop — if they're able to capitalize on this shift and sell products more effectively to older users." Just because something is going viral on TikTok doesn't necessarily mean Gen Z is behind it. The same could be said of Gen Z, which would explain the generations' shared fascination with a time before smartphones and round-the-clock news. The Gen Z users I spoke with didn't seem particularly concerned about an influx of olds.
Persons: Keara Sullivan, Zers, Rushmore, Sullivan, Ryan Broderick, Adam Bumas, Broderick, TikTok, , Cory Doctorow, it's, Kevin Munger, Doctorow, Casey Lewis, Lewis hasn't, Gen Zers, Jonathan Gelfond, Taylor Lorenz, Lorenz, Munger, Gen Z, Lewis, Stanley, Alpha, Zers —, Gen Alpha, hasn't, millennials, Jason Parham, Leslie Horn Petersen, she's, Gen, didn't, I've, Emilie Friedlander Organizations: New, Pew Research Center, Facebook, Senate, Microsoft, Penn State, Little League, Business, QVC, UC Santa Barbara, The Washington Post, YouTube Locations: New York, tfym, millennials, Brooklyn, Philadelphia
Young men without college degrees have been dropping out of the workforce for decades. On Thursday, the Pew Research Center released a report delving into whether a college degree is worth it. The report compares economic outcomes for young adults who've completed a college degree with those who have not. "Accompanying that wages were also bid up for non-college educated young men at that time." Fry added, "the rising rates of young men with criminal records" could be a reason given they could have a hard time finding work.
Persons: who've, it's, , Richard Fry, Fry, Pew, Gen, millennials Organizations: Service, Pew Research Center, Business, Labor, Bureau of Labor Statistics, Pew, Deloitte
Some of her most popular videos cover shows and movies like “The Vampire Diaries,” “Pirates of the Caribbean” and installments in the “Star Wars” franchise. None of them are nearly as long as her most recent video, “The Spectacular Failure of the Star Wars Hotel.”Over the course of 20 video chapters, Nicholson details her 2022 stay at the “Star Wars: Galactic Starcruiser” hotel in Orlando, Florida. The tale is likely familiar to Disney and Star Wars fans, many of whom heard about the high-dollar, high-concept hotel and its closure in 2023. The big draw of the hotel lay in what Disney marketing called an “immersive, customizable Star Wars experience” that Nicholson equated to LARPing, or live-action roleplaying. “I couldn’t care less about some dumb Star Wars hotel, but give me those 4 hours,” one X user said.
Persons: YouTuber Jenny Nicholson, , Nicholson, Allen J, Gen, Disney, Bob Iger, CNN’s Natasha Chen Organizations: CNN, Disney, Walt Disney, ” “ Pirates, , Wars, Star Wars, Los Angeles Times, Star, Google, Magic, Orlando’s Walt Disney, Disney Parks, Galactic, Locations: Caribbean, Orlando , Florida, Walt, Orlando’s, Anaheim, Florida
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. It's called "quiet vacationing," and millennials, in particular, seem to love it. That's compared to 24% of Gen Zers and Gen Xers who reported doing the same. They even want to look like they're working when they're supposed to be off the clock, with 37% of millennials saying they've purposefully scheduled a message to send outside their usual hours to make it look like they're working overtime. Millennials may be quiet vacationing more than other groups due to generational differences.
Persons: , It's, millennials, they've, Gen Zers, Gen Xers, Zers, they're, Libby Rodney, Harris, Rodney Organizations: Service, Business, CNBC
Cambridge University professor Thomas Roulet has hit back at the idea that Gen Z is lazy. He said younger people just have a different idea about what work means to them. JPMorgan CEO Jamie Dimon said people shouldn't "feel so bad" for Gen Z and millennials this week. AdvertisementGen Z is often called lazy — but a Cambridge University professor thinks younger people just have a different idea about what work means. Thomas Roulet, who teaches organizational sociology and leadership at the Judge Business School, defended the generation's work ethic in a video posted on the university's YouTube channel.
Persons: Thomas Roulet, Jamie Dimon, , Socrates Organizations: Cambridge University, JPMorgan, Service, Judge Business School, YouTube, Business
"But they also feel the pressure of wanting to win and the pressure of going to college," she told Business Insider last week. The biggest mistake that parents with ambitious, curious kids can make is adding to that pressure, she said. Stepping back and letting the kids do the workGrace Sun holds an OECT device that helped her win the ISEF science fair. "We never pressure them," Maria Estrada, whose two children have both competed and won awards at ISEF, told Business Insider. Sun told Business Insider she had to miss hours of school to work in a university lab for her project.
Persons: , Rhodes, it's, Ajmera, Gen Z, Grace Sun, Chris Ayers, Maria Estrada, Estrada, she's, Alexa Groff, Taylor, Groff, ISEF, Maddux Alexander Springer, Peggy Scripps, Krish Pai, Michelle Wei, George D Organizations: Service, Science, Engineering, MacArthur Foundation, Business, Society for Science, ISEF, Communication, Sun Locations: Hawaii, California, Kildare, Ireland, Shanghai, China, Los Angeles
She’s a business mogul in every sense: Aside from a prolific music career, she’s launched successful brands including her cosmetics empire Fenty Beauty – worth an estimated $2.8 billion according to Forbes – and her lingerie label Savage X Fenty. Her latest move in China to promote makeup products is something of a masterclass in how to tap into its lucrative – mostly online – Gen Z market. On Tuesday night, the chart-topping singer attended a Fenty Beauty pop-up held at a Shanghai photography museum, “servin’ face” according to brand’s Instagram, and “jianbing” – a popular Chinese breakfast crepe that costs about a dollar. In a screengrab from Instagram, Rihanna makes jianbing in Shanghai, China, during a visit to promote Fenty Beauty. While Fenty Beauty products have been available in the country since 2019, the brand announced this March that it would be expanding its presence via Sephora stores on the mainland.
Persons: CNN —, Rihanna, She’s, she’s, Forbes –, brand’s Instagram, , China’s TikTok, , Guo Pei, jianbing, RihannashowsupinShanghai, Gucci, Dior, Louis Vuitton Organizations: CNN, Vogue China, Academy of China Council, Promotion of International Trade Locations: China, Shanghai, Instagram, Weibo, Shandong, , China’s Shandong province, Jianbing, Douyin
Most Americans don't think they need to be millionaires in order to achieve financial success. Fewer than 20% of Americans define being "financially successful" as "being a millionaire," according to Bankrate's 2024 Financial Success survey. Nearly 60% of Americans say they would feel financially successful if they were able to "live comfortably," according to the survey. "Salary is often not the best barometer for financial success," Foster says. Increased prices for everyday necessities such as food and housing may also shape the way Americans picture financial success.
Persons: Gen, Sarah Foster, Bankrate's, wouldn't, Foster Organizations: Millionaires, CNBC Locations: U.S
Gen Z to older workers: We're just like you
  + stars: | 2024-05-21 | by ( Tim Paradis | ) www.businessinsider.com   time to read: +5 min
The study defined Gen Z as those born between 1997 and 2012, but the research involved only Gen Zers already in the workforce, not those still in school. In its interviews, 51% of Gen Zers said salary was the most important part of a job, whereas 47% of older workers said the same. BI recently reported that more than half of Gen Z and millennial workers are living paycheck to paycheck. In the survey, 33% of Gen Z workers told researchers they expect to be promoted to leadership roles at their company, compared with only 19% of older workers. And 44% of Gen Z workers want to be in charge of others versus only 27% of those outside that generation.
Persons: , Zers aren't, Gen Zers, aren't, Zers, Jon Veasey, Zer, Young, Deters, Gen, Gen Z, We're, Z Organizations: Service, Business, , KPMG US Locations: Veasey
Read previewCompanies are increasingly ditching middle management positions, and it could be millennials who find their jobs are most at risk. While Galvin said the intent of reducing middle management is to streamline communication between employees and senior executives, the impact could be unfairly balanced. AdvertisementMiddle management positions accounted for almost a third of layoffs in 2023, according to an analysis for Bloomberg — an increase from 20% in 2018. It just so happens that a lot of middle managers are millennials. Many current middle managers are also burned out with their teams being downsized, and an increased workload.
Persons: , it's, Lara Milward, Joe Galvin, Vistage, Steven Baert, It's, Galvin, Chris Lovell, Chris, millennials, Lovell, Zers, Milward, Joel Wolfe, HiredSupport, Millennials, Wolfe, Shoshanna Davis, unbossing, Davis, Gen Organizations: Service, Business, Novartis, Gallup, Bloomberg —, Technologies, SoFi Technologies
"I don't feel so bad for Gen Z and millennials," Dimon said, noting his grandparents were Greek immigrants who arrived in the US with nothing but "a shirt on their back." "They're going to be working probably 3.5 days a week. They're going to live to 100. They're going to be in pretty good shape, provided the world doesn't destroy it all with nuclear weapons, which is the biggest risk in the world." Related storiesDimon also emphasized that in the decades ahead, younger generations will inherit trillions of dollars and benefit from mammoth investments in healthcare, education, and other areas.
Persons: , they've, Jamie Dimon, Dimon, They're, Gen Z, X Organizations: Service, Business, AlphaSense Locations: America
The song was unveiled in April during a nighttime concert to mark the completion of a housing project in the capital Pyongyang, according to North Korean state-run Korean Central News Agency. “This isn’t Gen Z suddenly declaring allegiance for the regime,” said Alexandra Leonzini, a Cambridge University scholar conducting research on North Korean music. “They’re laughing at the regime not with the regime.”Nonetheless, South Korean security officials came down on the parodies. The music video of "Friendly Father" went viral on TikTok. North and South Korea have been cut off from each other since the Korean War in 1953 ended with an armistice.
Persons: Kim Jong, Kim –, Kim “, , TikTok, Z, Alexandra Leonzini, “ They’re, Kim, , Ha Seung, it’s, ” Ha Organizations: CNN, Korean Central News Agency, North, Cambridge University, Korea Communications Standards, Seoul’s National Intelligence Service, country’s National, Dongguk University, North Koreans Locations: Korea, Pyongyang, Korean, South Korean, South Korea, North Korea, KCTV
A majority, 78%, of U.S. workers say they don't take all their PTO days, and it's highest among Gen Z workers and millennials, according to a new Harris Poll survey of 1,170 American workers. That's not to say they're not taking breaks — they're just not telling their boss. Nearly 4 in 10 say they've taken time off without communicating it to their manager. "There's a giant workaround culture at play," Rodney says. "It's not exactly quiet quitting, but more like quiet vacationing."
Persons: they're, Libby Rodney, That's, Slack, Rodney, Gen Zers, millennials Organizations: Harris, Microsoft Locations: U.S
"I don't feel so bad for Gen Z and millennials," Dimon said, adding that his grandparents were Greek immigrants who arrived in the US with nothing but "a shirt on their back." "They're going to be working probably 3.5 days a week. They're going to live to 100. They're going to be in pretty good shape, provided the world doesn't destroy it all with nuclear weapons, which is the biggest risk in the world." Related storiesDimon added that in the decades ahead, younger generations would inherit trillions of dollars and benefit from mammoth investments in healthcare, education, and other areas.
Persons: , they've, Jamie Dimon, Dimon, They're, Gen, Xers — Organizations: Service, Business, AlphaSense Locations: America
In this article JWNKSSM Follow your favorite stocks CREATE FREE ACCOUNTSignage of Macy's, Kohl's and Nordstrom retail stores. Department stores like Macy's , Kohl's and Nordstrom face an existential crisis, as they try to persuade investors to bet on their futures while sales slow and their core customers age. Melissa Repko | CNBCTo attract younger shoppers, Kohl's is adding trendier clothing for teens, opening more Sephora shops and bulking up its baby department. At the same time, Macy's is trying to go where younger shoppers are, including suburban strip malls and beauty aisles. The company plans to open up to 30 of its smaller off-mall Macy's stores over the next two years.
Persons: hasn't, Nordstrom, Oliver Chen, Cowen, Chen, Kohl's, Melissa Repko, Tom Kingsbury, Maxx, Kingsbury, Macy's, It's, Tony Spring, He's, TD Cowen's Chen, Scott Olson Organizations: Nordstrom, Getty Images Department, Department, Wall, Baby Boomers, Boomers, CNBC, Target, Costco, Getty Locations: Kohl's, Macy's, Sephora, Bluemercury, Bloomie's, Zara, Chicago , Illinois
They snatch protesters from the crowd and drag them back into a mass of black uniforms. Will Cathcart Will CathcartHundreds of thousands of people have taken to the streets across Georgia in recent weeks to protest the government’s adoption of a Kremlin-inspired “foreign agents” bill. As with the foreign agents law, the bill’s authors claim it promotes transparency, an absurd notion. The foreign agents bill is a symptom of a deeper issue – money. The pressures of authoritarian intimidation and systematic violence have hardened Georgia’s young protestors like diamonds.
Persons: Will Cathcart, Mikheil Saakashvili, Cathcart Will Cathcart, Vladimir Putin’s, Putin, Hans Gutbrod, , Salome Zourabichvili, aren’t, Gen Z, Europe –, Giorgi Arjevanidze, Bidzina Ivanishvili, Party ” –, Mamuka Mdinaradze, Shalva Papuashvili, – “, , James O’Brien’s, Ivanishvili, Zviad Organizations: CNN, Tbilisi CNN — Riot, Georgian, Ilia State University, European Union, Getty, Global, Party, Georgian Orthodox Church, US, State, Eurasian Affairs, Fletcher School of Law, NATO, Special Forces Exchange Locations: American, Tbilisi, Georgia, Russia, Belarus, Kyrgyzstan, Europe, AFP, Georgian, Soviet, Russian, United States, Brussels, Washington, Moscow, EU
In January, Steak 'N Shake, a fast-casual restaurant in the Midwest, started installing facial recognition kiosks in its 300 locations for patron check-in. "We believe our partnership with JPMorgan is a watershed moment for biometric payments as it represents the first time a leading merchant acquirer has agreed to push biometric payments to its merchant customers," Miller said. "JPMorgan brings the kind of credibility and assurance that both merchants and consumers need to adopt biometric payments." The majority still prefer fingerprint scans to facial recognition, according to a 2023 survey from PYMENTS, but age is a factor. Juniper Research forecasts over 100% market growth for global biometric payments between 2024 and 2028, and by 2025, $3 trillion in mobile, biometric-secured payments.
Persons: PopID, Dennis Gamiello, John Miller, Miller, acquirer, Sheldon Jacobson, Jacobson Organizations: Foods, Mastercard, NEC, Target, AliPay, KFC, JPMorgan, Consumers, Juniper Research, University of Illinois, Facebook Locations: Flippy, Pasadena , Calif, Midwest, Brazil, Asia, Pacific, Illinois, China, McDonald's, U.S, Urbana, Champaign
In 2024, Gen Z workers are expected to outnumber baby boomers in the American labor force for the first time. Gen Z workers know what their bosses are saying about them, and they'd like to have a word. Some leaders even go as far as saying they avoid hiring Gen Z workers, who are as old as 27 this year. Myth: Gen Z is asking for too muchMany leaders think Gen Z are entitled not just in their earning power, but what they expect out of work in general. Myth: Gen Z workers will quit because they're disloyalIt's long been true that early-career professionals are more likely than seasoned workers to change jobs quickly.
Persons: Gen, Zers, Z, Keely Antonio, Baby Boomers, Gen Z, Antonio, Ziad Ahmed, Ahmed, Booth, I'm, Ziad Ahmed Head, They're, they're Organizations: CNBC, Baby, JUV Consulting, Fortune, United Talent Agency, UTA Marketing Research, Workers
Norwegian Cruise Line CEO Harry Sommer told CNBC's Jim Cramer on Monday that younger generations are becoming more interested in the company's offerings. "We appeal obviously to older customers, but millennial and Gen Z is the fastest-growing segment of our cruising right now," he said. "They're coming, they're enjoying it, they see the value for the money, but they also appreciate the guest experience." Shares jumped on Monday, closing up 7.56%, after Norwegian raised its full year-guidance. According to Sommer, Norwegian continues to see demand among its target customer base, "middle and upper tier income consumers."
Persons: Harry Sommer, CNBC's Jim Cramer, Sommer Organizations: Cruise Locations: Sommer , Norwegian
And recognizing that very notion is what makes Indonesian coffee chain Kopi Kenangan different from many of its competitors. Which is why this cup of Kopi Kenangan coffee here in Singapore may taste different from a cup in Indonesia. Edward Tirtanata: Before I started Kopi Kenangan, I started this tea chain called Lewis and Carroll. And that is why our first menu is called Kopi Kenangan Mantan, which directly translates into, memory of my ex-girlfriend coffee. Ernestine Siu: In 2019, Kopi Kenangan received its first outside investment of $8 million from venture capital firm Alpha JWC Ventures.
Persons: Edward Tirtanata, Ernestine Siu, It's, Serena Williams, Jay, Eduardo Savrin's, Edward, Kopi Kenangan, Carroll, James Prananto, James, Little, Kopi, creamer Organizations: Alpha JWC Ventures, Northeastern University, Starbucks, Entrepreneurship, Toyota Locations: Jakarta, Singapore, New York, Indonesia, Vietnam, Southeast Asia, Boston, United States, Kopi, Bandung, U.S, Indonesian
When my partner and I signed a two-year lease to move into our second New York City apartment together in 2021, we agreed that the next place we lived in would be ours. New York City is where I grew up, and I am not ready to give up my status as a "passenger princess" — yes, I'm 31 and don't have a driver's license. "There are four things that go into getting a mortgage: your credit, your income, your assets, and the property," Forbes says. The application process for a program like the New York City HomeFirst Down Payment Assistance Program or the NYS AHC grant can take several months. My partner and I bought a co-op, which is very common in New York City.
Persons: We've, Dave Forbes, Forbes, you've, Z, Gen Zers, millennials, wouldn't Organizations: New, Chase, NYS, Qualtrics, National Association of Housing Cooperatives, Rocket Mortgage Locations: New York City, Riverdale, Bronx , New York, Manhattan, Midtown, New York State, New York, That's, millennials, .
But an Instagram posting streak is different from, say, exercising every week for a year or doing a language lesson daily, both of which have intrinsic value. You feel good about trying to get in shape or practicing Spanish no matter who sees; that's not the case for Instagram posting. "But to post on Instagram, I'm not like, 'Wow, I'm a great poster.'" Ultimately, the Instagram badges aren't the end of the world. AdvertisementThe Instagram badges aren't widely available for all users yet, and a spokesperson for Meta said they had nothing to share on whether they eventually would be.
Persons: I've, Instagram, Wordle, Meta, Instagram's, Scott Kessler, it's, Ali Grant, Grant, that's, Barasch, I'm, they'd, she'd, , Emily Stewart Organizations: YouTube, Third, Meta, Facebook, Digital, University of Colorado Boulder's Leeds School of Business, Business
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