Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Politics

UK cost of living: commute, uniform costs force Gen Z to turn down jobs

admin by admin
November 4, 2024
in Politics
0
UK cost of living: commute, uniform costs force Gen Z to turn down jobs
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

A new study reveals a troubling paradox for Generation Z in the United Kingdom: even after successfully navigating the job application process, many young people are forced to decline employment opportunities due to the financial burden associated with starting work.

The Prince’s Trust annual NatWest Youth Index 2024, based on a survey of over 2,000 16-to-25-year-olds, paints a stark picture of how the cost of living crisis is impacting young people’s career prospects and overall well-being.

Expenses such as work attire and commuting costs are proving insurmountable for some, with one in 10 unemployed respondents reporting having to turn down job offers because of these financial hurdles.

The report also highlights a record low in financial confidence among young people in the 15 years since the index began tracking this metric. More than half expressed fears about achieving financial security, and over a third find merely thinking about their finances stressful.

These anxieties are particularly pronounced among young women, with 60% expressing concerns about the cost of living hindering their financial future and half worried about affording a family, compared to approximately 45% of young men sharing similar concerns.

Interestingly, an increasing number of young people are turning to social media platform TikTok for financial advice, with the number doubling since 2022.

The Prince’s Trust warns that these economic pressures are having “drastic consequences” on the confidence, well-being, and future aspirations of young people, particularly those from disadvantaged backgrounds, and contributing to a decline in mental health.

Jonathan Townsend, the UK chief executive of the Prince’s Trust, describes a concerning “trap” where unemployment and poor mental health reinforce each other, jeopardizing the prospects of this generation unless addressed urgently, according to a report in Fortune.

The report underscores the debilitating impact of mental health challenges, with 40% of respondents reporting such struggles and a third fearing these will impede their career goals.

Mental health issues are already affecting young people’s work lives, with one in five having missed school or work in the past year, 18% feeling unable to apply for jobs, and 12% avoiding interviews.

Notably, one in 10 young people from disadvantaged backgrounds left a job this year due to mental health difficulties.

This echoes separate research indicating that even when present at work, many young people are mentally absent, losing the equivalent of a day’s work each week.

Despite these challenges, Townsend sees a “window of hope” in the report’s findings.

Gen Z has clearly articulated how employers can provide crucial support, including work experience opportunities, CV and interview guidance, and job-specific skills training.

Townsend emphasizes the continued determination of young people to achieve their goals, highlighting the need for practical support and guidance to navigate the evolving challenges of the modern workplace.

The post UK cost of living: commute, uniform costs force Gen Z to turn down jobs appeared first on Invezz

Previous Post

Southwest, other airlines gear up for premium, but will it be enough to lift stocks?

Next Post

Affirm enters UK market, bringing competition to buy now, pay later landscape

admin

admin

Next Post
Affirm enters UK market, bringing competition to buy now, pay later landscape

Affirm enters UK market, bringing competition to buy now, pay later landscape

Trending News

Retire rich with these blue-chip dividend ETFs

Retire rich with these blue-chip dividend ETFs

January 25, 2025
Grief in the workplace: Four ways to help employees cope

Grief in the workplace: Four ways to help employees cope

October 30, 2024
US core capital goods orders beat expectations in September

US core capital goods orders beat expectations in September

October 25, 2024
Subscribe to Insightful Word


    Recent News

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    June 6, 2025
    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    June 6, 2025
    Asian stocks end mixed: Hang Seng snaps winning streak, Nikkei jumps 0.5%

    Asian stocks end mixed: Hang Seng snaps winning streak, Nikkei jumps 0.5%

    June 6, 2025
    Starlink reportedly secures key licence in India, moves closer to launching services

    Starlink reportedly secures key licence in India, moves closer to launching services

    June 6, 2025

    Recent News

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    June 6, 2025
    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    June 6, 2025

    Latest News

    • China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll
    • FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more
    • Asian stocks end mixed: Hang Seng snaps winning streak, Nikkei jumps 0.5%

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.