Cost of living is now young adults’ biggest concern, research has found
(Picture: Getty Images)Consultants Deloitte have found that the cost of living crisis is the number one concern for young adults.
Their research found that millennials, defined by Deloitte as 27- to 39-year-olds, and Gen Zs, who are now all adults themselves, have grown more anxious about their income covering surging costs than other issues.
For the past ten years since the survey began, climate change was the primary concern, which obviously hasn’t gone away; the majority of Gen Zs and millennials responded this year to say they are often trying to protect the environment.
But now as outgoings across the board are going up, leading to inflation today being announced as reaching a 40-year high, while real wages aren’t keeping up, self-preservation has become a more serious issue.
“We can see that Gen Zs and Millennials feel deeply concerned about the state of the world and their own futures and are actively trying to balance the challenges of their everyday lives with their desire to drive societal change. There is an urgent need for business leaders and employers to empower their people to do so,” Will Gosling of Deloitte said.
Personal choices that are more environmentally friendly are often seen as more expensive, which can sometimes pit these two priorities against one another. Calls for change being driven at a government level has been a hot topic for environmentalists – and now the same can be said for dealing with the cost of living crisis.
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