Financial Problems and Relationship Issues are Major Stressors for Gen Z and Millennials

Deloitte conducted a survey of Gen Z and Millennials. The findings indicate that both generations frequently experience stress and anxiety, with a higher proportion reported among Gen Z.

46% of Gen Z respondents stated they experience stress or anxiety almost constantly. This is consistent with Deloitte's findings over the past two years.

"This compares to 38% of Millennials, whose stress levels have slowly decreased from 44% in 2020. Stress levels are more prominent among women, particularly among Gen Z," Deloitte wrote in its report.

What factors contribute to the stress experienced by these two generations?

The research team identified long-term financial concerns as the primary driver of stress for both Gen Z and Millennials, affecting 47% of Gen Z and 43% of Millennials. This finding mirrors last year's survey.

(See also: Survey: Job Prospects and Career Issues are the Biggest Stressors for Gen Z and Millennials)

Furthermore, 42% of Gen Z now consider daily finances a significant stressor, up from 38% last year, while 39% of Millennials feel the same.

Concerns about family health and well-being were also reported by 42% of Gen Z and 39% of Millennials. Remaining factors are detailed in the graph and points below.

Deloitte noted that several workplace factors also trigger stress, particularly for Gen Z. One-third of those frequently experiencing stress cited their workload (34%) and poor work-life balance (32%) as significant contributors to their stress and anxiety.

One in four respondents indicated that their inability to be themselves at work was a considerable issue.

Deloitte defines Gen Z as individuals born between January 1995 and December 2003, and Millennials as those born between January 1983 and December 1994.

The survey involved 23,220 respondents, comprising 14,808 Gen Z and 8,412 Millennials from 46 countries across North America, Latin America, Western Europe, Eastern Europe, the Middle East, Africa, and Asia-Pacific. The survey utilized online interviews. Data collection was completed between November 24, 2021, and January 4, 2022.

In addition to the survey, a virtual qualitative assessment was conducted in April 2022 with 15 Gen Z and Millennials from Australia, India, Japan, the United Kingdom, and the U.S.

The following factors contribute to stress among Gen Z and Millennials:

* Long-term finances: Gen Z 47% of respondents; Millennials 43%
* Daily finances: Gen Z 42%; Millennials 39%
* Family health/well-being: Gen Z 42%; Millennials 39%
* Mental health: Gen Z 39%; Millennials 30%
* Personal/family relationships: Gen Z 39%; Millennials 31%

(See also: Gen Z Experiences More Anxiety Than Millennials and Gen X)