Millennials Had a Financial Crisis, Generation Z Has a Pandemic

The COVID-19 pandemic triggered a severe economic crisis, disproportionately affecting young people, especially Generation Z. The unemployment rate for youth soared, and many entry-level jobs were lost, impacting their education and career prospects. Federal Reserve Bank of Richmond President Tom Barkin highlighted the challenges faced by young workers and the importance of entry-level jobs in developing essential skills. The video explores the unique challenges of this recession and the need to support young people in navigating the new economy.

In what ways have minority communities been affected by the economic fallout of the pandemic?

What role do entry-level jobs play in the development of young workers' skills?