Most of the workforce up to the age of forty live by stretching their paycheck until the next one. And that is that the cost of living is for millennials (those born between 1981 and 1995) and Generation Z (born between 1995 and 2010) their main social concern, above unemployment and climate change. 51% of Gen Z and 52% of Millennials say they live paycheck to paycheck and five percentage points more than in 2022.

2023 Gen Z and Millennials Survey Deloitte shows how the devastating events of the last three years have shaped the lives and views of 22,000 respondents from 44 countries. As the COVID-19 pandemic recedes, the report looks at how these generations’ experiences in the workplace have evolved.

What does generation Z, those born from 1997 to 2012, spend and save on? Research reveals this

A third of those who work full or part-time say they are very satisfied with their work-life balance, up from just one in five in 2019. While nearly half of Gen Z and most millennials They answered that work is still important to them, that they focus a lot on the balance between work and private life. They want flexibility in where and when they work. Many now have hybrid or telecommuting models. They would like better career advancement opportunities for part-time employees, more part-time jobs in general and the option of more flexible working hours for full-time employees, such as a shortened four-day work week.

Despite this, many Generation Z (46%) i millennials (37%) took a paid part-time or full-time job in addition to their main job to make ends meet. Side jobs include selling products or services online, temporary jobs like food delivery or a ride-sharing app, pursuing artistic ambitions, and social media influence. While social media is seen as a source of income for some, it also exacerbates financial anxiety: 51% of Gen Z and 43% millennials They say that using social media encourages them to buy things they can’t afford.

Stress tests of this generation