A Definitive Guide to Why Life Is So Terrible for Most Millennials (2024)

FAQs

What's the biggest problem with millennials? ›

In general, millennials expect a lower quality of life in several regards, ranging from spending power and net worth to relationships and self-perception. They're more vulnerable to just about everything, including health problems and substance abuse.

We all went through pandemic, but for them: wage stagnation, Great Recession, unprecedented levels of college student loans to pay back, delays in buying a home. Am I missing anything? Chris Farrell: No, those are the main reasons why millennials, they've been called the unluckiest generation and the lost generation.

Across three studies, Millennial participants consistently reported liking Baby Boomers the least of all generations and identified them as most threatening to their own generation's interest. Conversely, Baby Boomers liked Millennials the least and found them most threatening to their own interests.

While 45% of those surveyed described Gen Z as the most challenging to work with, this dropped to 26% for millennials, 13% for Gen X, and 9% for baby boomers. In the end, being “difficult” is probably just another rite of passage.

Whether it's due to student loan debt, sky-high housing costs, inflation, or stagnant wages, there's no sugarcoating it: most young people simply aren't saving enough. You don't get cheap college, cheap housing, cheap gas, and cheap health care like previous generations did.

According to Gallup, 6 out 10 millennials (57%) answered that work-life balance and well-being in a job are “very important” to them. As a result, they are more likely to leave a job as it doesn't meet their needs in terms of salary, benefits, or workplace culture.

Although the stress of experiencing a continuing polycrisis affects people of all demographics, recent research from GlobeScan shows that Gen Z respondents across 31 countries and territories are more than twice as likely to say they frequently experience stress and anxiety than are Baby Boomers and older.

“I think it's just that Millennials happen to look good because of the way that Millennials have adopted injectables,” Belkin explained. Injectable treatments continue to rise in popularity as part of antiaging routines among all age demographics — and Millennials are leading in year-over-year growth.

Generation Z vs Millennials: Key Takeaways

Millennials value stability (34%), while Gen Z puts more of an emphasis on finding their dream job (32%). More Gen Zers follow their parents' influence (42%), compared to their Millennial counterparts (36%).

Why is Gen Y now called millennials? ›

Also known as Generation Y, Millennials are a demographic cohort, or age group, that falls between Gen X and Gen Z. They're called Millennials because the oldest members of this generation became adults at the turn of the millennium.

Unlike the previous generation who had fought for "changing the system," the Silent Generation was about "working within the system." They did this by keeping their heads down and working hard, thus earning themselves the "silent" label.

Gen Z workers also report the highest rates of wanting to quit their jobs within the last three months compared to all other generations.

A growing discourse suggests that Generation Z (Gen Z) is endowed with higher cognitive abilities compared to their predecessors, the Millennials. This assertion prompts an exploration into the unique characteristics and experiences that might contribute to the perception of heightened intelligence within Gen Z.

A Tale of Two Millennials

Like Boomers, Millennials are a huge generation that we sometimes split into two subgroups: Early Millennials (born 1980-1987) and Recessionists (born 1988-1995). The fairly obvious element that divides these two groups is life stage.

What social issues do Millennials care about? Social issues that millennials care about include climate change, environmental protection, affordable healthcare, equal access to healthcare, Immigration reform, and increased diversity.

We asked Millennials about their fears related to their work life. On the whole, Millennials fear they will get stuck with no development opportunities (40 percent), that they will not realize their career goals (32 percent) and that they won't find a job that matches their personality (32 percent).

Millennials get a bad rap for lots of things, but they have some distinct advantages over Baby Boomers and Gen Xs. Surprisingly, leading Millennials is no different to leading other types of people – the problem is that, if you are a poor leader, you will just get away with a lot less!

Millennials grappling with financial challenges

The burden of student debt for Millennials is significantly increased, given the sharp rise in college tuition fees. Escalating housing prices and cost of living have further strained the ability of Millennials to afford homes without sizable financial assistance.