Recent data highlights that Gen Z workers in the UK are facing a 1.9% decline in employment and a 0.2% drop in wages following the introduction of the Government's jobs tax. This decline is particularly severe for part-time and casual young workers, who have seen a -1.8% wage reduction. The report suggests that small businesses, operating on tight margins, might be making staffing choices that negatively impact younger employees. The disparities in earnings compared to older generations are becoming more pronounced, thereby exacerbating financial vulnerabilities for Gen Z workers.
Kevin Fitzgerald, UK MD of Employment Hero, stated that Gen Z workers are bearing the brunt of the Government's National Insurance hike, experiencing declining employment and shrinking wages.
The timing of this decline indicates that businesses may be making difficult staffing decisions that disproportionately affect their youngest and most financially vulnerable employees.
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