What if, for the first time in modern history, an entire generation worked harder and got poorer
They studied more, took on more debt, and entered the job market in one of the most advanced economies in the world
and yet they can't afford rent, can't pay back loans, and can't plan for the future
This is the story of Gen Z, the poorest generation in modern America
They didn't choose this start. Gen Z, born between the mid-1990s and early 2010s, came into a world already cracked by inequality
By the time they took their first steps, wealth gaps in the US were widening faster than ever
In fact, the income of the top 1% was growing five times faster than the bottom 90%
And for many Gen Z kids, poverty wasn't a temporary phase. It was the starting point
In 2005, as the generation was just beginning, households below the poverty line had double the birth rate of those with higher incomes
More children were being born into families that had less, less money, less education, less access
This meant millions of Gen Zers were starting light, with odds already stacked against them
And in a country like the US, where public safety nets are weaker than in most developed nations, being born into poverty isn't just unfortunate
It's predictive. It often means lower quality schools, fewer opportunities and a much harder path to college
Even basics. Financial support from parents, like staying at home rent-free or covering emergencies, isn't an option
So while the average net worth for Americans under 35 is often cited as over $70,000
for most Gen Z adults, the real number is closer to $14,000, if they're lucky
Because average is large, they're pulled up by a tiny percentage of wealthy outliers
while most young people are drowning in debt or stuck at zero
For most of Gen Z, the numbers just don't add up. They're earning more degrees than previous generations
working multiple jobs and still can't afford to live on their own. Why? Because the cost of
simply existing has skyrocketed while wages have barely moved. Let's start with housing
In 1975, a typical house in the US cost around $4,600, or about $244,000 in today's money
In 2024, that same house, over $512,000, more than double even after adjusting for inflation
And in major metro areas, where jobs, universities and opportunity are concentrated, the prices are even worse
For many, rent alone eats up over 30% of their income. In some cities, it's 40% or more
Add in health insurance, car insurance, food and internet, and there's barely anything left
From 2012 to 2022, car insurance premiums more than doubled. Healthcare costs rose 46 but wages They only grew By 26 inflation adjusted That not a gap that a canyon and it not just housing or healthcare College the supposed key to financial security
is now a massive financial trap. In 1970, tuition at a private college averaged $1,600
around $12,000 today. In 2022, that same tuition costs over $41,000 public universities
A fourfold increase over the same period, even after inflation. A summer job used to cover a year of tuition
Now it can barely cover a textbook. The result? A generation buried in student debt before they even land their first job
And the jobs they're landing aren't what they were promised. Gen Z isn't lazy. They're exhausted
Over 53% of them work for platforms they'd rather not. Admit to, because when rent is due, morals often lose to math
Nearly 60% of Gen Z adults say they feel constant stress about their finances
and that's not just anxiety, it's reality. In 2023, one in seven had maxed out their credit cards
not from luxury spending, but from surviving groceries, bills, emergencies, and even as they work more than ever, their paychecks fall behind
Many Gen Z employees are earning less than previous. Generations did at the same age
even in inflation-adjusted terms. In fact, they pay 31% more for housing than millennials did
just a decade earlier. And compared to baby boomers, Gen Z has half the purchasing power
Imagine walking into your parents, first home at age 25, and removing 17 out of every 20 things
they owned. That's what Gen Z can afford today, by comparison. Meanwhile, their debts keep growing
and not just from student loans. Credit card interest rates hit a record 21.76% in 2024
That's nearly double what millennials faced a decade earlier. It means even small balances
spiral out of control, fast. And what about job security? It barely exists. Getting a job used
to mean stability, not anymore. Today, many Gen Z workers are disposable, not because they lack
talent, but because the system is built to treat them as temporary. The traditional full-time job
with benefits? It's becoming rare. Instead, 36% of American workers are now part of the gig economy
delivering food, driving passengers, freelancing on platforms with no benefits, no security
and no clear path forward. This new economy is growing three times faster than regular employment
and it's where Gen Z finds itself trapped. Even in professional roles, layoffs are frequent
In tech, once the golden ticket, mass firings are now the norm. Spencer Camerman, a Gen Z graduate
in computer science knows it too well By age 25 he had been hired and laid off twice He spent eight months applying to hundreds of jobs getting ghosted or beaten by AI systems and when companies do have an opening
Many don't want Gen Z. In a recent survey, 45% of employers said they'd rather hire retirees or
freelancers than young adults. 37% said they'd rather use AI, 30% preferred to leave the position
empty. The message is clear. Youth is no longer an asset. It's a liability. And when the
few who do get hired face burnout, high expectations and low pay, it's no surprise that some are
choosing to walk away entirely, not from the job, from the dream. For decades, college was the golden
ticket. Study hard, earn a degree, land a stable job. That five, carry student loan debt. And the
average balance is nearly $21,000. That's 14% more than what millennials owed at the same age
But the cost of college didn't just rise, it exploded. Since the 1970s, tuition at private universities has increased by over 2,100%
Even public universities, once considered affordable, have seen costs jump 2,580% after adjusting for inflation
In 1970, a summer job could cover a full year at a public college
Today, that might not even buy the textbooks. And while degrees are more expensive than ever, they're also more necessary
In 1973, only 28% of jobs required any higher education. By 2018, that number hit 63%
By 2031, it's expected to reach 72%, with nearly half requiring a bachelor's degree or more
So when older generations say, just skip college, they miss the point
For Gen Z, skipping college means skipping the job market entirely. But going to college often means entering adulthood already in debt, with no guarantee of a return
Even worse, recent graduates face an unemployment rate of 5.3%, higher than those without a degree
because in a volatile job market, inexperience trumps education. And for a generation already drowning in bills, that's a cruel reality
Then came the pandemic. Just as Gen Z was entering college or starting their first jobs, the world shut down
Offices closed, campuses emptied. Instead of building careers, many built anxiety. And when the economy reopened, the damage was already done
They had fewer connections, less experience and more debt. They were told to compete in a job market that barely had space for them
And when things got tough, many had nowhere to fall back on. Over 52% of young adults moved in with their parents during the pandemic, a number higher than even during the Great Depression
Not because they were lazy, but because there was simply no other option, even now
56 of Gen Z says they live paycheck to paycheck and 60 don have enough savings to cover just three months of expenses One missed paycheck one medical bill one job loss and everything unravels Older generations could rely on family support home equity or a slower economy But
Gen Z, many of them grew up in households that were already struggling. There's no inheritance
no emergency fund, just the pressure to survive and to do it alone. Worse, they entered adulthood
during a time of rising inequality. While a small group of wealthy young Americans inherited
millions, most Gen Z's started at zero or below. And in a country where social mobility is declining
starting poor often means staying poor. They were told to dream big, to go to school, get a degree
find a passion, build a future. But that future, for many, never showed up. Instead, they found
themselves over-educated, underemployed and emotionally drained. Their diplomas didn't open doors, their jobs didn't pay enough and their lives became a constant balancing act between debt
burnout and doubt. Some started to give up, not out of weakness but exhaustion. They weren't
quitting on success, they were questioning whether it still existed. For 23-year-old Sophie
the feeling wasn't panic, it was numbness. Will we even get to retire? She asked. I'm not worried
I just feel powerless. And behind that feeling is a deeper truth. Gen Z watched the world change
fast. They saw a pandemic freeze time, they saw housing prices double while wages stood still
they saw AI rise, automation threaten millions of jobs, and recruiters ignore them altogether
A report by McKinsey estimates that by 2030, 375 million jobs may be displaced by automation and AI
And while some doubt those numbers, one thing is clear. This generation is facing a future unlike any other
Future where traditional jobs vanish, where experience doesn't guarantee opportunity, and where even hard work can lead nowhere
Gen Z didn't fall behind because they made bad choices. They fell behind because the rules changed, and no one told them
The cost of housing doubled. College became a debt trap. Jobs became unstable, and yet the advice stayed the same
Work hard. Be patient. It'll pay off. But for millions of young Americans, it hasn't
They studied more, earned less, and watched the dreams slip further away
We often measure generations by what they build, but maybe we should also ask, what did they inherit
And what was taken from them before they even began? Because when an entire generation works
harder and ends up poorer, that's not a failure of effort, that's a failure of the system. And just
like every collapsing structure, it never breaks. All at once, it cracks slowly, silently, until the