(NewsNation) — High prices have the newest addition to the world’s workforce are opting out of job offers, a new report revealed.
The survey, conducted among 2,000 16-to-25-year-olds in the United Kingdom for the Prince’s Trust annual NatWest Youth Index 2024, found that modern price tags are making it hard for some to accept a new position.
“The cost of living is making young people feel hopeless and anxious about their future, taking a toll on their mental health and damping their career ambitions,” the report reads.
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One in 10 unemployed respondents said they’ve had to turn down jobs because of pricey uniforms, work-appropriate clothes, transportation, rent and more.
According to the research, 5% of young people have missed school or work in the last year because of transportation costs — that number jumps to 9% for the poorer respondents.
Despite these responses, a majority (68%) of Gen Zers say “having a job as beneficial to their life and future, not just to realise financial stability, but also to benefit other aspects of their lives, such as their mental health,” the report reads.
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The survey recorded the “lowest level on record” for overall happiness and confidence in regards to financial status. Around 34% answered that the cost of living has negatively impacted young people’s mental health, while 33% said even thinking about finances depresses or stresses them.
The recent survey is far from the first dataset to point out dissatisfaction among young workers, with a Gallup State of the Workplace report in June finding that 25% of young employees reported experiencing “daily loneliness.”
That same survey reported that overall employee well-being fell from 35% to 34% in 2023, with the decline felt most sharply among workers under 35.
