A new survey conducted for the Prince’s Trust annual NatWest Youth Index 2024 reveals significant challenges faced by Gen Z in the UK, as rising living costs push young workers to decline job offers.
- Survey Demographics: The survey involved 2,000 individuals aged 16 to 25 across the UK.
- Job Offer Rejection: One in ten unemployed respondents have turned down job opportunities due to expenses like transportation and work-appropriate attire.
- Impact on Education and Employment: About 5% of respondents missed school or work last year because they couldn’t afford transportation. This figure increases to 9% among less affluent young people.
- Mental Health Effects: The cost of living crisis is causing widespread mental distress among the youth, with 34% reporting a negative impact on their mental health.
- Perception of Employment: Despite these challenges, 68% of respondents still view employment positively, acknowledging its benefits for financial stability and mental health.
The survey highlights a pressing need for measures to alleviate financial pressures on young workers, emphasizing the critical impact of the cost of living on both career development and mental health among the UK’s youth.
