The Jolly Roger Signals A Wave of Gen-Z Protests Driven by Unemployment

The Jolly Roger Signals A Wave of Gen-Z Protests Driven by Unemployment

For the many millions of teens who grew up geeking over anime like One Piece, the flash of the grinning skull on the iconic Jolly Roger flag from One Piece is a nostalgic, welcoming sight. Yet, for a growing base of millions of angry Gen-Zs in Nepal, Indonesia, Madagascar, Kenya, Morocco, and even Peru, the flag is becoming a symbol of their defiance against powerful and corrupt governments that are doing very little for their economic future. But why now? And, more importantly, why Gen-Z? 

While many are eager to write off protesters as simply young and angry, thus more likely to protest, the unique similarities across each of these protests and the severity of each signal a deeper root cause. The economic trend of high youth unemployment is a trend that is strangely similar in all of these cases. In Nepal and Madagascar, the youth unemployment rates reached around 20%, while overall unemployment rates remained at under 5%. In Madagascar, the youth unemployment rate skyrocketed to a whopping 45% with an overall unemployment rate of just 2%. This signals a broader trend of young people who are now facing the worst of the poverty of their nations, with very little prospects for their economic futures. What would you do if you knew you wouldn’t get a job? No college, no prospects, no financial future. 

This bleak image was only exacerbated with the growing wealth inequality in each of these nations. In Madagascar, protesters marched with signs reading: “water is not a political issue”, as the country lacked even basic necessities for citizens to survive. In Nepal, an image of a politician's child with a Christmas Tree of luxury brands went viral as people called out Nepo Babies. In Morocco, people called for “Healthcare before FIFA”, as the government embarked on the expansive project for organizing FIFA 2030. The common sentiment was clear - people want prospects over showiness, and a financial and political future for themselves. 

The issue of Gen-Z unemployment isn’t limited to just these countries - with a traditional career pipeline being reshaped by AI, and youth unemployment soaring above total  unemployment rates pretty much everywhere, the challenge of the job market doesn’t look like it’ll be getting easier anytime soon. Yet, these protesters are out there, screaming for change, and we’ll see their impacts in the next few weeks. 

Curious about how macroeconomic trends influence your life? Check out: https://readmomentum.co/episode-2-how-does-th/

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