A "demographic reshuffle" of Baby Boomers retiring and Millennials becoming more established in their careers has left Generation Z as the new target for construction groups seeking to bring young people into the field.
Currently between the ages of 9 and 24 years, Gen Zers are the subject of much research as well, anticipating their future education and employment outlooks, trends, and preferences. Growing up during the Great Recession and witnessing the ballooning student loan debt experienced by Millennials, who were pushed in greater numbers toward traditional degree-earning institutions, Gen Zers are more open to alternatives, including trade programs and apprenticeships, reports Construction Dive.
Student loan debt is second only to mortgage debt in the U.S., with students of the Class of 2017 graduating with an average of $39,400 in loans, according to advisory firm Student Loan Hero. But studies suggest that Gen Zers — who may have watched an older sibling struggle to afford rent or a down payment, for example — will be more hesitant to take on this financial burden and aren’t sure if the value is worth the expense.
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