The class of 2023 will graduate this spring with a rented cap and gown, high egg prices, and a new season of Succession to curb or distract from recession fears.
Graduating into economic uncertainty is never a welcome entry into the adult world, but Gen Z isn’t taking a recession sitting down. So indicates Adobe’s survey of over 1,000 upcoming and recent university grads as part of its Future Workforce Study. It found that while 70% of Gen Zers are worried about a recession, that hasn’t stopped 78% of them from feeling good about the current labor market.
Rightfully so. Some CEOs hoped that economic straits would end the era of worker empowerment, with many—like Morgan Stanley CEO James Gorman—ushering workers back into the office. Despite tech layoffs, the job market has a relatively low unemployment rate and an average layoff rate lower than what it was pre-pandemic. And people are still quitting. It’s emboldened Gen Z to maintain the upper hand at work—they know exactly what they need and want during difficult times. The majority of them (67%) say that macroeconomic factors have influenced or are likely to influence their job search, Adobe found.
Case in point: Over half (55%) reportedly look at an employer’s financial outlook before applying to a position. Most are also paying attention to an employer’s reputation and employee reviews. Established, bigger companies are more appealing to a slight majority (52%) of graduates, who feel they represent stability in tough economic times.
Most (85%) won’t even apply to a job listing if it doesn’t include the salary range. It’s no surprise, considering the generation is bold about asking their peers what they make and sharing their salaries with strangers on the internet. Vaishali Sabhahit, global head of university talent at Adobe, says this is partly because the generation grew up consuming social media, where everyone shares their lives with followers, and because they…