Gen Z's economic might: $1.1T income and growing workforce

Generation Z’s economic influence is growing. The country’s youngest cohort, which accounts for one-quarter of the U.S. population, has reached an estimated combined income of $1.1 trillion, leaving them with about $950 billion to spend after taxes. That compares with a combined income, including earnings from jobs, parental support and side hustles, of $360 billion just three years ago, according to a study released by research, training and advisory firm Gen Z Planet.

That is largely driven by the expanding presence of Gen Z workers in the full-time workforce. There are now 18.1 million full-time Gen Z employees, the report said. Part-time work also makes up a significant portion of income for younger Americans, with more than 9 million Gen Z workers in part-time jobs earning almost $107 billion in net income.