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From Home Furnishing Business
Fast Fact: Generation Z: More Educated, Affluent with Less Work Experience
November 18,
2019 by Laurie Northington in Business Strategy, Industry 
During the next five years, over 20 million consumers tagged as Generation Z will pour into young-adult status with the leading edge surpassing the age of 21 this year. According to data from the U.S. Census Bureau’s Population Statistics, Generation Z comes from more affluent families, are less likely to have held a job before entering the workforce, and are on their way to becoming the most college-educated generation.
At 59% in 2017, Generation Z has the highest percent of 18 to 20-year-olds enrolled in college among those no longer in high school – up from 53% of Millennials in 2002 and 44% of Gen Xers in 1986.
Only 19% of Gen Z teens 15 to 17-year-olds in 2018 were employed full or part time during the previous year compared to 30% of Millennials the same ages in 2002 and 41% in Gen Xers in 1986.
Expressed in constant 2017 dollars, Generation Z, ages 6 to 21 in 2018, lived in households with an average income of $63,700 – 2.1% higher than Millennials in 2002.
For a closer look at the data, click here.