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Work market for Generation Z will resemble creative economy

creative economy

The majority of Gen Zers intend to make their side job full-time in the next six months, according to VibePay

The work market for Generation Z will resemble a post-pandemic creative economy. Gen Z is the most entrepreneurial generation in the workforce, renouncing traditional employment in favour of the creative economy, according to VIBEPAY data.

Generation Z currently accounts for nearly a quarter of the workforce.

The majority of Gen Zers intend to make their side job full-time in the next six months, according to the research by VibePay.

The post-pandemic job market is projected to be choppy as businesses rehire workers and try to get back to pre-pandemic levels, but the creative economy might wreak even more havoc.

VibePay’s research found that 18-23 year-olds are more focused on starting their own business and following their passions compared with their older counterparts.

The UK job market will undoubtedly be reshaped as a result of this entrepreneurial explosion as 67 percent of Gen Z entrepreneurs intend to make their side business their primary source of income.

This economic rewrite includes income redistribution as one in every eight Gen Z entrepreneurs earns over £500 per month from their side jobs.

This financial success is most likely the motivating cause behind the shift from traditional jobs to entrepreneurship. This is particularly so because the post-pandemic labour market appears to offer relatively little well-paid work for this age group.

The study indicated that despite the fact that the phrase “creator economy” is still relatively new, over 50 million people worldwide consider themselves to be part of it.

The study found that although Gen Z is the main force behind the side job growth, over a quarter of UK individuals have a secondary income source through a side business.

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