gen z & millennials are under stress due to the high cost of living deloitte findings
Last updated on October 7th, 2023 at 06:05 am
According to a recent study by Deloitte, Gen Z and Millennials are stressed out.
According to data collected between November and December 2022 from 22,000 people in 44 different countries, 46% of Gen Z and 39% of Millennials reported feeling stressed all the time or most of the time due to a lack of a healthy work-life balance, the high cost of living, and workplace stressors.
Reporter Peter Maxwell from 7 Action News went to talk to Gen Z and Millennial residents of metro Detroit to find out what stresses them out.
“Of course, the economic situation. For the people, it’s a real mess, one person said. Therefore, many people “devolve into the crabs in the bucket mindset where everyone is competing for money, time, attention, influence, notoriety, and things of that nature,” as one person put it.
According to the 38-page study by Deloitte, most or all Gen Z workers experience stress at work. The same was felt by 39% of millennials.
The cost of living, stigma surrounding mental health, and stressors related to work-life balance were also examined in the study. A third of Gen Zers and about the same percentage of Millenials report feeling mentally detached from their jobs and exhausted at work. Work and other factors are blamed for some of that issue.
Almost 70% of millennials and members of Generation Z claim to be constantly working after hours and responding to messages and emails related to their jobs.
According to Milleial Zeve Lopez, “I think that more of the issue is that we all add to it ourselves.” “We all overconsume.”
A licensed therapist named Shannon Bruin claims that she observes the same trends as the survey from her position.
Bruin added, “But it’s not just stress. “From a clinical standpoint, what we’re discovering is that it’s clinical stress…Our general mental health is impacted by this stress.
According to the survey, women, members of the LGBTQ+ community, people with disabilities, and members of racial and ethnic minorities are those who are most affected by stress at work among Gen Z and Millenials.
Employers must acknowledge that they are hiring members of this generation, according to Bruin. “These are the people you’re bringing onto your team, and as an organisation, you have to set yourself up to allow this to be sustainable.”