The report shows that unemployed Gen Z are having to turn down jobs because they cannot afford transportation and uniforms
According to 2024 research, after going through multiple rounds of interviews, impressing employers, and landing contracts, Gen Z is forced to turn down the roles they are offered because of the costs associated with starting a job. start a new job.
A survey of more than 2,000 young people aged 16 to 25 in the UK for Prince’s Trust Annual NatWest Youth Index 2024 found that the cost of living is making today’s youth feel anxious about the future and limiting their career aspirations.
From having to spend money on a new uniform (or rather, work-appropriate clothes) to splurging on travel cards until arriving at work — it’s all accounted for. 1 in 10 unemployed Generation Z people have had to turn down a job because of such costs.
Worryingly, confidence about money has hit a record low in the 15 years since the index began tracking the wellbeing of young people in the UK—more than half of those surveyed fear they will are never financially secure and just thinking about money is enough to cause stress for a third of them.
This is especially acute among young women, with 60% worried that rising living costs will prevent them from achieving financial security. Meanwhile, half fear they won’t make enough money to support their families. Meanwhile, about 45% of young men have the same concerns.
TikTok Tips
So where do they find money advice? TikTok, of course. Number of 16 to 25 year olds surveyed turn to social media platforms to learn lessons such as “noisy budgetingAccording to research, it has doubled since 2022.
The trust said the findings showed the current economic climate was having “serious consequences” for the “confidence, happiness and aspirations for the future” of young workers, especially those from the poorest backgrounds—and overall, it is affecting their mental health.
Jonathan Townsend, UK chief executive of the Prince’s Trust, said: “This trap, where poor mental health and employment struggles exacerbate each other, is at risk of hitting the world. system unless we act immediately.”
Mental health is the second biggest dream killer
As Townsend points out, unemployed young people are caught in a vicious cycle in which unemployment is bad for their mental health — but at the same time, their mental health also affects their ability to work. Surname.
A staggering 40% of respondents said they had mental health difficulties and a third worried that it would prevent them from achieving their career goals.
For a large number of young workers, their mental health is hindering their work: one in five have missed school or work in the past year, 18% feel too bogged down to apply job and 12% cannot face going to an interview.
Meanwhile, one in 10 young people from poorer backgrounds have left their jobs this year due to mental health challenges.
Separate research has reflected that even when younger workers show up, the vast majority still do not show up. equivalent to one working day per week. Essentially, they go to the office but their minds are so blank that they struggle to actually accomplish anything for nearly 50 days a year.
How employers can help
Despite the bleak findings, the study “offers a window of hope,” according to Townsend, that’s because Gen Z has outlined exactly how employers can step in to help them.
For a third of respondents, this looked like support to secure work experience, advice on how to write a CV and conduct interviews, and training on how to build specific skills. revenge for work.
“The vast majority of young people told us they remain determined to achieve their goals,” Townsend concluded. “What they need, however, is practical support and guidance to overcome the challenges they face, especially as the world of work continues to change rapidly.”
A version of this story was originally published on Fortune.com on February 5, 2024.
