Born after 1996, Generation Z individuals are currently facing one of the largest setbacks and generation defining moments in the form of Covid-19. As many are in their early stages of adulthood, they are faced with the reality of having to learn independence and responsibility while navigating a worldwide pandemic. Recent college graduates and current college students are experiencing the impactful hit to the job market, seeing an unemployment rate rise almost 10% from the pre-pandemic 2-5% rate.

Gen Z has always been known to be more practical and restrictive with money than generations past, specifically with worries of being able to pay off debt and saving enough for retirement. Many now are faced with the reality of rethinking their career paths with the hit and long lasting impact Covid-19 will have. Younger Generation Z individuals in high school are now facing the reality of virtual education or entering a university or college with virtual or hybrid education formats. Students and their families are now having to think more about the financial and educational ramifications of taking a gap year or opting for a lesser expensive college than many private universities. 

Learn more about the impact of Covid-19 on Generation Z at CNBC.