Brian Mena

speaker

38 appearances 1 recordings 1 series first heard Nov 2022 last heard Nov 2022

Brian Mena’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Why Are So Many Older Gen Z Workers Not Seeking Jobs? · 17 Nov 2022 podcast

has coincided with an increase in their school enrollment, generally reflecting this higher demand for educated or highly skilled workers, which is especially true in a weak labor market, which is what happened during the 2007-2009 recession.

That hasn't been the case this time around.

So it is also possible that they could be taking care of a relative.

They could be quite simply just waiting for the right job opportunity to come along.

And so the reasons do vary on why someone may not be in school or in the labor force.

but one reason is that they may just be waiting for the right job to come along.

And this is afforded because of the tight labor market, you know, workers have leverage, and so they have this luxury of waiting it out, whether it's better wages, better working conditions, whatever it may be.

So that's one reason why.

We know that job openings began to soar last year, and they're still pretty high.

We had about 10.3 million job openings in September, and we know that quitting is still elevated.

And so these both reflect that workers have confidence in leaving a job and being able to quickly find one.

And one economist pointed out this changed mindset among these workers.

And you see this through movements like quiet quitting, worker wage, where it kind of points to this leverage that these workers have, simply because you have such a tight labor market with really high labor demand.

And you have a smaller pool of workers because of these early retirees, these early 20-somethings sitting on the sidelines.

This really puts employers in a bind because they have fewer older workers, but they also have fewer workers in their early 20s who are starting out in their career, who are seen as investments, who you train and you expect to remain at a company for years.

And so employers could potentially be losing out on these investments.

And so the implications are pretty significant.

Thanks so much.

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