Gen Z and Millennials, the cost of living is the first concern
[ad_1]
The high inflation of recent months also scares young people and is, for Millennials and GenZ from all over the world, the number one concern of 2022. This was revealed by the latest edition of the «Deloitte Global GenZ and Millennial Survey». According to the study, conducted on a sample of over 22,000 people in 44 countries around the world and on over 800 young people in Italy, concern about the cost of living stands out among all and even in our country, boys and girls are particularly concerned about the soaring cost of living. In particular, the cost of living is the number one concern for almost half of the Millennials in Italy (46%) and for 38% of the GenZ surveyed.
Very high values which confirm the trend of inflation at record levels all over the world: even for 42% of the global average of Millennials and for 35% of GenZ, the cost of living is the first concern. In second position, but no less relevant, remains the climate issue, which should be the priority to be addressed according to 37% of Italian Millennials and 34% of GenZ. The percentages of those who fear unemployment are also significant: 29% of GenZ and 26% of Italian Millennials. In line with the global average, 50% of GenZ and 47% of Millennials live from paycheck to paycheck and fear not being able to make ends meet. In particular, Italian GenZs and Millennials show high levels of concern about the impact that economic stagnation is having on them, affecting their ability to start a family and buy a home.
Therefore, if the economy does not improve in the next year, 71% of Millennials and 63% of GenZ in our country think it will be very difficult or impossible to start a family (against 47% and 50% of the global average). Fears about the house are also significantly higher than the global average: 71% of GenZ and 73% of Millennials think it will be impossible to buy one in the next year if the economic scenario does not improve. To cope with economic instability, 37% of GenZ and 23% of Millennials in Italy have at least one second job with which they try to supplement their first source of income.
For 68% of GenZ and 71% of Millennials these two factors are more important than a career, which, however, remains a fundamental element of identity for 49% of GenZ and 62% of Millennials. And while it is true that life outside work is very important for young people, it is not surprising that the majority of GenZ (80%) and Millennials (79%) would quit their jobs if forced to return to the office full time. In Italy, GenZ is less “stressed and anxious” than the global average (44% Italian vs 46% global), while Millennials declare themselves more anxious and stressed than the global average (42% Italian vs 39% global). Concerns about one’s economic future and the well-being of one’s family weigh above all on mental health: 45% of GenZ and 47% of Millennials are worried about it in the first case, 38% of GenZ and 41% of Millennials in Italy in the second. Among Italian GenZs, 63% (against 60% of the global average) say they have been worried or anxious about the climate in the last month.
«Even on the employment front – Fabio Pompei, CEO of Deloitte Italy – very significant trends are consolidating. Flexibility, mental health, attention to environmental and social impact are increasingly important for GenZ and Millennials looking for a job. Furthermore, many young people have questioned the hierarchy of values that give meaning to their lives: in Italy 7 out of 10 respondents say that family and friends are more important than a career. A fact that is reflected in the great importance attributed to work-life balance and hybrid work, now considered the new normal».
[ad_2]
Source link
