Millennials and Gen Zers in their first jobs out of college might actually tell the story of the economy

The job market for young workers isn’t what it used to be — and the shifts in their career choices may be telling us a lot about where the economy is heading.

Over the past 15 years, entry-level roles for college-educated Americans have evolved dramatically in some areas, while remaining surprisingly consistent in others. The positions young workers gravitate toward often mirror larger economic forces — from the retail collapse of the 2010s to the rise of Big Tech and now the growing dominance of healthcare.

To better understand these trends, Business Insider analyzed occupational data from 2010, 2019, and 2023, focusing on Americans aged 18 to 27 who are employed, not enrolled in school, and hold at least a bachelor’s degree.

• 2010 data reflects millennials at the early stages of their careers following the Great Recession.
• 2019 data captures younger millennials and older Gen Z workers during the last labor market peak before the COVID-19 pandemic.
• 2023 data highlights Gen Z’s place in the current workforce.

How the Top Jobs Have Shifted

A look at the top 10 occupations among college graduates in this age group shows how much has changed between 2010 and 2023:

(Source: Business Insider analysis of ACS data via IPUMS)

Millennials and the Post-Recession Economy

In 2010, early-career millennials were still feeling the aftershocks of the Great Recession. Jobs in retail and hospitality ranked high among young college graduates. For instance, retail salesperson was the fourth most common occupation, employing about 2.6% of younger workers at the time.

But as e-commerce giants like Amazon reshaped shopping habits, brick-and-mortar retail began shedding jobs. Between 2009 and 2019, the retail sector lost more than a million positions, and by 2023, retail roles had dropped far down the list.

Tech’s Rise — and Its Limits

The data also highlights the fast ascent of the Big Tech era. In 2010, software developers ranked just ninth among younger workers. By 2019, they had soared to third, accounting for 3.8% of young graduates — and they held that spot in 2023 at 4.1%.

High salaries, generous perks, and near-limitless growth opportunities made tech especially appealing for Gen Z and millennials alike. But the environment has shifted. The end of the zero-interest-rate policy meant companies could no longer spend freely, and the AI revolution has made some entry-level tech jobs redundant. Many Gen Z workers are now reassessing whether tech is as stable a bet as it once seemed.

Healthcare Steps Into the Spotlight

At the same time, healthcare roles have become increasingly attractive. With an aging US population and constant demand for medical services, the field offers job security and strong earnings potential.

• In 2010, about 3.4% of younger workers with degrees were registered nurses.
• By 2023, that share had risen to 4.8%, making registered nurse the most common occupation among degree holders aged 18–27.

Gen Z’s strong presence in healthcare reflects both economic opportunity and the reality of demographic change.

What This Means for the Future of Work

The occupational shifts of young graduates serve as an early indicator of where the economy is heading. Millennials entered the workforce through retail and service roles shaped by recession. Pre-pandemic Gen Z and millennials leaned heavily toward tech as the industry boomed. Today’s Gen Z workers are still interested in tech but increasingly drawn to healthcare and education — sectors that promise stability and growth.

In short, the first jobs of young workers continue to be a mirror of the times: a decade ago it was retail, more recently it was tech, and now the next big chapter may belong to healthcare.