- 41% of Americans expect to see an increase in layoffs across the US in the next six months
- More than a quarter of employed Gen Zers (28%, ages 18-28) say they have little to no confidence in their ability to find a new job in this market if they were to be laid off
- About a quarter of Gen Z (26%) say that they are losing hope in finding a job, or finding a different job, after endless interviews and applications
Young Americans are feeling anxious about their place in an uncertain job market, as recession fears continue to climb. With graduation season ushering in a new wave of Gen Z adults into the workforce, many will enter a job market that feels anything but welcoming.
According to a new study conducted online by The Harris Poll on behalf of Intuit Credit Karma, among 2,074 U.S. adults ages 18 and older, 41% of Americans are expecting to see an increase in layoffs across the US in the next six months, at a time when 20% of Gen Z and 18% of millennials (ages 29-44) don’t think the job market could get any worse than it already is.
Concerns about the economy are real for 66% of Americans who report being fearful of an upcoming recession, and young adults are stressing about how a potential recession might impact their livelihood – more specifically, their job security. Losing their jobs or having their hours reduced are concerns held by 28% of millennials and 27% of Gen Z. Additionally, 22% of Gen Z are worried about their inability to find a job after graduating.
Employed right now or not, the future feels uncertain for young professionals. More than a quarter of working Gen Zers (28%) report having little to no confidence in their ability to find a new job if they were to be laid off in today’s market. As for those currently on the hunt, a little over a quarter of Gen Z (26%) say they are losing hope in finding a job, or finding a different job, after endless interviews and applications.
Anxieties around job security may be even more heightened for those carrying student loan debt. Roughly a quarter of Gen Z (23%) and millennials (24%) are concerned about taking on unmanageable debt due to a potential recession. While the study doesn’t specify which types of debt young Americans are concerned about, Credit Karma platform data shows that millions of federal student loan borrowers are struggling to keep up with their debt. Of the roughly 24 million Credit Karma members with federal student loans, 4.6 million are delinquent or have had their loans closed with a charge-off.
“Starting out in the workforce is already intimidating, and layering on economic instability can easily lead to feelings of stress and discouragement,” said Courtney Alev, consumer financial advocate at Intuit Credit Karma. “While navigating the job search, try to focus on taking small steps forward, like building your network, asking questions, and staying open to opportunities to learn and grow. If you’re also managing student loan debt, start by creating a repayment plan that targets the loan with the highest interest rate first, while continuing to make minimum payments on the rest. Federal borrowers can also visit the Federal Student Aid website, which offers a loan simulator to help choose a repayment option that fits your needs.”
Methodology
This survey was conducted online within the United States by The Harris Poll on behalf of Credit Karma from April 7-9, 2025, among 2,074 U.S. adults ages 18 and older. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within +/- 2.5 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest. For complete survey methodology, including weighting variables and subgroup sample sizes, please contact pr@creditkarma.com.