Remote work career risks for Gen Z

Remote work's impact on Gen Z careers and hiring practices is evolving, with potential implications for youth employment and financial services.

Harvard professor Nicholas Bloom warns that remote work, while offering flexibility, can hinder career progression for Gen Z, contributing to a rise in youth unemployment. Meanwhile, digital bank Revolut is reversing its 'remote-first' policy, mandating office presence for new recruits starting next year.

This shift could affect the financial services sector, with Revolut's move potentially signaling a broader trend towards in-person work for young professionals. This could impact youth unemployment trends and, consequently, consumer spending and economic growth.

Upcoming catalysts to watch include: the release of youth unemployment data by the Federal Reserve in early 2023, Revolut's Q4 earnings report in late January, and any further announcements from other financial institutions regarding their remote work policies.