Between political, economic and lifestyle uncertainty, various data is showing that Millenials, and especially Gen Z folks are reporting more anxiety and depression than previous generations.
From the American Psychological Association to private health workers investigations, the data shows that Gen Z folks are 27 percent more likely to report anxiety than previous generations, including Millennials, at 15 percent.
There are confounding factors that cause this data as well as younger generations to report it. Generation differences can be seen in the cost and quality of life, as well as what different generations value. The data shows that social and financial climates are drivers of reported feelings of anxiety among these generations.
With this knowledge, it is also important for young Millennials and Gen Zers to know their risk factors, and take the necessary steps to prevent mental health issues when possible.
The Social Situation
Today's young people have different values than generations before them. According to a study, Millennials are getting married and having children later than previous generations, and even between Millennials and Gen Z folks, Millennials are more likely to live with a romantic partner, although the oldest Gen Z person is only 24 so give them some time.
Millennials and Gen Z have benefited from social diversity, and they are generally more likely to have a higher education. But there are difficulties their generations are facing as well.
The social changes reflect many things, but the data shows that young people's anxiety is related to today's social issues. The American Psychological Association found that Gen Z reports higher levels of stress related to the news than adults including issues such as separation, climate change and school shootings.
Gen Z and young Millennials are also speaking out about why they are so stressed about these social issues. From the Youth Climate Strikes to the school walkouts protesting gun violence, they are making their voices heard.
As youth activist Greta Thunberg famously says in her speeches, her generation feels like their futures have been taken from them.
The social climate reflects the reported levels of stress, but it doesn't stand alone. The economic climate is a different playing field for Millennials and Gen Z than previous generations.
The Financial Situation
Millennials are less likely to have as much life savings, compared to previous generations when they were their age, according to the Pew Research Center statistics. Also, they are less likely to own property. This does reflect the economy's inflation and the rising cost of living. Especially in cities where all the jobs are, it hikes up the prices.
Not to mention student debt, as many more young people have gone to college compared to previous generations, meaning they are starting off adult life with a large debt. The daily financial stresses of young Millennials and Gen Z to have financial autonomy is a daily battle with balancing lifestyle choices.
Young people also have higher spending habits, they like to buy into trends, try new things, compared to previous generations. Although, it is costing them. A study found that the majority of young people have less than $1000 in their savings account.
These stats aren't set in stone as doom for all young people to be financially insecure, as much as a wake-up call about what is happening in their generation. Knowing that young Millenials and Gen Z will be facing economic barriers, and social pressures, there is a lot that can be done to prepare them for an independent life and with the tools to prevent anxiety.
What To Do To Be Prepared
Life is happening, there are aspects about it that Millennials and Gen Z can't control, such as the social issues and news, but they can control their stress levels and financial planning.
It takes time to get a job that is steady enough to pay the bills and start savings. Managing a budget from a young age is a great way to start off as a financially independent person. The sooner you can make saving a habit and understand your spending, the easier it will become for facing economic barriers and managing debt.
All generations report job and financial security as major life stressors, young Millennials and Gen Z are just getting started in these areas. Naturally, it takes time to become financially stable, economically savvy all while discovering the person you are meant to be.
Knowing that these generations are reporting more anxiety, they can form communities for talking about their mental health. These generations share mutual hardship and having each other as support for managing that stress is essential. If you know someone experiencing stress, try to support them to the best of your ability or help them find resources for managing their anxiety if it is beyond your skill set.
As always, self-care is key for managing anxiety, and living a healthy lifestyle with plenty of good foods, sufficient movement and sleep.
