Young people are increasingly overwhelmed at work, survey shows (via CNBCMakeIt)
Gen Z and millennial workers are getting more and more stressed out and overwhelmed at work, a study shows.
About 61% of respondents under the age of 35 were most concerned about finances, job security and failing to meet their career goals in the next 10 years, a survey by Bain found. Only 40% of those who were 35 and above shared the same concerns. "According to our survey, 81% of workers in emerging markets said they felt optimistic that their lives would be better 5 to 10 years from now, compared with only 63% in developed economies," the report said.
In places like the US, where higher education receives limited public funding, universities are also saddling workers with crippling debt.The earnings gap between young employees who enter high-skilled professions and those who do not is also widening. Yet about 40% of recent college graduates ended up in jobs that don't require them to have a higher education, the report said.
"On top of everything else, younger workers will grapple with the burden of caring for an aging population. They also face the challenge of paying down public debt, which has ballooned as a result of the pandemic, at a time of slowing macroeconomic growth," the report said.Not all of the stressors younger workers face are unique to them, however. The pandemic has dealt a blow to nearly every economy in the world, with wide-ranging effects in the labor market at large.
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