The best careers often feature many setbacks, including layoffs, firings and trying out different jobs that don’t fit. In other words, people make mistakes and find themselves in the wrong place, so then they move on.
Contrary to popular perception, young people don’t change jobs more than previous generations. Changing jobs is how wages traditionally grow and often how your career advances. And while technology can be a burden, it also opens up possibilities. It's much easier to connect with new people or stay in touch with old colleagues to build a network that can help you find your next job.
I'm optimistic that Gen Z will find a way to buck the trend of increased risk aversion. The current economy is making it clear that there are no guarantees, even if you do everything right. Many of the companies that were supposed to be that golden ticket — big banks and tech firms — are laying off workers or calling hiring freezes.
Covid disruptions dealt young graduates a huge setback and lots of disappointment, but it also required them to adapt with technology, and do it quickly. There was certainly damage done, but perhaps that experience will also leave Gen Z better equipped to deal with whatever shocks the job market throws at them.
Allison Schrager is a Bloomberg Opinion columnist covering economics. A senior fellow at the Manhattan Institute, she is author of “An Economist Walks Into a Brothel: And Other Unexpected Places to Understand Risk.”