Gen Zers are leaving work behind and choosing a 'NEET' lifestyle instead

Gen Z is leaving behind the conventional idea of jobs and school to become adults. An increasing amount of today's youth are skipping out on employment opportunities and the traditional paths people take. This is leading to a global spike in unemployment among the younger generations. The driving force behind this movement is known as "NEETs" - individuals who are not employed, in education, or receiving any training.  

Based on data from the International Labour Organization, one out of every five people worldwide between the ages of 15 and 24 currently falls into the NEET category. This pattern of avoiding work and education seems to be more prevalent among Gen Zers when compared to older generations.

Economic factors seem to be a major contributor. A recent TransUnion study found that 20-somethings today earn around $45,500 annually, compared to $51,852 for millennials at the same age after adjusting for inflation.

“I’m just focusing on the present because the future is depressing”, said Annette Suveges, a 27-year-old account executive, in an interview with Fortune.  

A CNBC and Generation Lab poll revealed that 55% of Gen Z and millennial adults feel it's "much harder" to buy a home. 44% said finding a job is also difficult, and 55% struggled more to get promoted.

However, the NEET lifestyle may also reflect shifting attitudes. The past decade's "hustle culture" appears to be decreasing among Gen Z, who prioritize work-life balance and mental health over ambition.  

A 2023 study showed that 40% of Gen Z prefers unconventional economic opportunities with less commitment than traditional careers. Roles like teaching, with lower pay but more vacation time, are appealing.

Health issues are another factor enabling NEET tendencies. The Resolution Foundation think tank warned that "youth worklessness due to ill health is a real and growing trend."