Brief
Gen Z and millennial founders plan to boost hiring as boomers hold back
A Justworks‑U.S. Chamber index finds young entrepreneurs are more bullish on hiring and investment than older owners.
By Felo News Desk · Published
New data from the Q3 2026 Small Business Index, compiled by Justworks and the U.S. Chamber of Commerce, indicates that 46% of Gen Z and millennial small‑business owners intend to increase staff over the next year, compared with just 19% of owners from the baby‑boomer generation or older, according to Fortune.
What happened
The index, released in early October, surveyed owners across industries about hiring plans, investment intentions and revenue expectations. While overall small‑business optimism has slipped—only 36% of all owners expect to add staff, down from 44% a year earlier—young owners remain confident. Half of Gen Z and millennial owners say they will raise investment, and 71% anticipate revenue growth, versus 18% and 51% respectively among boomer owners.
What the report adds
Fortune notes that the broader labor market is described by former Fed Chair Jerome Powell as a “low‑hire, low‑fire” environment, with the Bureau of Labor Statistics reporting a 1.9% quit rate in August, the lowest since 2020, and September job gains of just 29,000, well below forecasts. The article links this slowdown to inflation pressures from the Iran war, U.S. tariff policy and the rise of AI, which is replacing entry‑level roles in one‑third of firms, according to a Graduate Management Admission Council survey.
What was said
Justworks CEO Mike Seckler told Fortune, “Young entrepreneurs, like Gen Z and millennial entrepreneurs, are much more bullish about how their businesses look, and they’re more confident hiring right now than folks from older generations.”
How it came about
The index follows a year of mixed signals for small businesses. Earlier this year, Felo News reported on Gen Z pressure on millennials to retire from corporate jobs (gen‑z‑millennials‑retire), highlighting the same generational tension in the labor market. The current data shows that, despite a tight overall hiring climate, young founders are choosing to expand, contrasting with the cautious stance of older owners.
Key facts
- 46% of Gen Z and millennial small‑business owners plan to hire more staff in the next year. (fortune.com)
- Only 19% of baby‑boomer or older owners intend to increase staff. (fortune.com)
- 71% of young owners expect revenue growth, versus 51% of older owners. (fortune.com)
- Overall, 36% of all small‑business owners anticipate adding staff, down from 44% a year earlier. (fortune.com)
- The August quit rate was 1.9%, the lowest since 2020, and September added just 29,000 jobs. (fortune.com)
Sources
- [1] fortune.com — originally reported as “Gen Z founders are hiring while Boomers' corporate America freezes out—‘I’ve already proven to myself that I can thrive in this’”
