Young

Newsweek -  Gen Z, the youngest generation in the workforce, are increasingly unable to repay their debt, a survey has found. The generation, which comprises people born between the mid-1990s and the early 2010s, was the cohort most behind on their debt payments (for more than 90 days) and they are more delinquent on their debt bills than they've been in three years, according to the New York Fed. Many are burdened with student loans due to the rising costs of higher education, and they've faced economic instability as they start their careers and often struggle to find secure and well-paying jobs. Gen Z-ers who are now adults have faced severe economic volatility, especially in the aftermath of the COVID-19 pandemic, shifting the financial realities that earlier generations met before them. "Like Millennials before them, Gen Z has had the deck stacked against them," attorney Michael Lux, the founder of The Student Loan Sherpa, told Newsweek. "A college degree remains essential for most jobs, yet tuition increases continue to outpace wage growth. Throw in years of inflation and rent price growth, and it becomes challenging to stay above water."