Economic uncertainty has some US consumers concerned about job security, despite a persistently tight labor market. Senior partner Kelsey Robinson and coauthors shared results from the recent McKinsey Consumer Pulse Survey, finding that 74 percent of Gen Z and millennial respondents are worried about job security. Baby boomers, meanwhile, are less likely to reenter the workforce and indicate less concern about job stability.
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A series of bar graphs shows the distribution of survey participants’ answers to the question “To what extent are you worried about your job security?” The bar graphs, from left to right, show the answers from Gen Z, millennial, Gen X, Baby Boom, and total respondents. Each bar is broken into four segments that sum to 100 percent, with slight exceptions because of rounding: from top to bottom, “not worried at all,” “slightly worried,” “somewhat worried,” and “extremely worried.” The group with the largest share of respondents reporting worry is Gen Z at 74 percent, followed by millennial at 62 percent, Gen X at 52 percent, and Baby Boom at 19 percent.
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To read the article, see “US consumers send mixed signals in an uncertain economy,” April 28, 2023.