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Gen Z Redefines Job Security and Careers Amid Layoffs

Gen Z Redefines Job Security and Careers Amid Layoffs

Ivana Shteriova March 26, 2024
March 26, 2024
Leading freelance website Fiverr surveyed 10,000 Gen Zers worldwide (aged 16 to 26), including 5,000 from the US, on their work preferences. The study shows how layoffs, AI, and work flexibility impact the way this generation works and perceives its careers.

Compared to last year’s results, more Gen Zers (up 3%) are into freelancing. In fact, 70% of the respondents reported they are freelancing or plan to pursue this career path in the future. Of those, 40% are freelancing full-time or willing to, while 30% are freelancing part-time or intending to. Additionally, 12% of Gen Z freelancers work in-between jobs or to gain new skills and experience.

As for work-related preferences and priorities, 44% of Gen Zers globally aspire to build a career where they will be financially comfortable. 30% would like to be able to work from anywhere or travel for work. Interestingly, one in four Gen Zer want to own a business, while 14% prefer a life-long freelance career.

Similar to the global findings, over 70% of American respondents said they are thinking more about freelancing as a career path compared to last year. This could be due to the desire for greater flexibility and anatomy in their day-to-day life. The survey found that over a quarter of US Gen Zers want control over return-to-office policies, and nearly as many (28%) prefer hybrid work options.

American Gen Zers are looking for job stability in freelancing amid the rise in corporate layoffs. In fact, one in five believe freelancing offers more stability than a traditional job. 38% of US respondents believe full-time freelancing “gives them the power of never getting laid off,” and 36% see it as a backup plan in case they lose their traditional job.

Fiverr found that US Gen Zers have found strength in freelancing when confronted with new generative AI technologies. 18% of the respondents believe that as freelancers, they are less likely to be replaced by AI. Still, 10% of this group reported they were laid off, and another 14% admitted they are afraid they will get laid off.

“Not only does freelancing offer a stable path to be their own boss or to own their own business, but it also allows for Gen Z to have total autonomy over their own lives,” Gali Arnon, Fiverr’s Chief Business Officer, said in response to the survey’s findings.

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