Young founders are hiring

Forty-six percent of Gen Z and millennial business owners plan to increase staff in the next year, compared with just nineteen percent of baby boomer owners or older.

Young owners are more bullish

Gen Z and millennial entrepreneurs are more confident about their businesses and more willing to hire than older generations, according to Justworks CEO Mike Seckler.

“Young entrepreneurs, like Gen Z and millennial entrepreneurs, are much more bullish about how their businesses look, and they're more confident hiring right now than folks from older generations.”

Young owners plan bigger investments

Fifty percent of Gen Z and millennial owners plan to increase investment, compared with eighteen percent of boomer owners. Seventy-one percent expect revenue growth versus fifty-one percent of older peers.

The broader job market is frozen

Former Federal Reserve Chair Jerome Powell describes the labor market as low-hire, low-fire: employers aren't laying off many workers but aren't hiring many either, making it hard for new entrants.

Hiring and quitting are both down

Only one point nine percent of nonfarm workers quit their jobs in August, matching the lowest quit rate since twenty twenty.

AI is replacing entry-level roles

Companies are being more conservative in hiring partly because of inflation and the rise of AI automating tasks usually assigned to early-career hires. One in three employers say they're replacing entry-level roles with AI.

Young founders have survived worse

Young entrepreneurs aren't rattled by economic turbulence because they've grown up in constant uncertainty. Seckler says they have a mindset of thriving despite chaos: "I've already proven to myself that I can thrive in this."

“I've already proven to myself that I can thrive in this.”

Gen Z is choosing entrepreneurship

Nearly thirty-eight percent of recent and soon-to-be college graduates are considering starting their own business.Young people have lost faith in traditional employment and now see entrepreneurship as the safer path than climbing the corporate ladder.