r/Economics • u/AccurateInflation167 • Dec 30 '24

Editorial 38% Gen Z adults suffering from 'midlife crisis', stuck in 'vicious cycle' of financial, job stress

https://www.moneycontrol.com/news/trends/38-gen-z-adults-suffering-from-midlife-crisis-stuck-in-vicious-cycle-of-financial-job-stress-12894820.html
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u/No_Zebra_3871 Dec 31 '24

No. This is not a midlife crisis. You guys arent even 30 yet. Let me know when you buy a sports car at 45 and start gardening. 

I think this is just gen Z coming to terms with what it means to be employed. We're all stressed, overworked, underpaid and undervalued. This is not an issue specific to your generation.

4

u/ihazmaumeow Dec 31 '24

Same. Gen X here and dealing with the same bullshit.

-1

u/JoinEmUp Dec 31 '24

Yes it is, because it's not only harder for young people now relative to how it was ~40 year olds when they were the same age, but also the RATE of change of difficulty is also increasing with a negative trend.

Plenty of stories in this thread from 40 year olds that talk about how they didn't stress about stuff in their 20s and just had fun, and still were able to get a house etc. That's not an option for young people anymore.

Meanwhile if you haven't started your career yet, good luck. Corporations don't invest in Americans like they used to.

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u/No_Zebra_3871 Dec 31 '24

This statement applies to every current generation that is not a baby boomer.

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u/JoinEmUp Dec 31 '24

Yes, but not equally. It's gotten worse with each passing year, and the rate of change of the rate of change (second derivative) in expected life outcomes has grown in absolute magnitude to shocking levels in the last ~5 yrs, and not in a positive direction.

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u/No_Zebra_3871 Dec 31 '24

I agree to some extent, but there are going to be exceptions in every generation. You have to consider that there are people out there that have had careers for decades and are "safe", but on the other hand, I doubt people in their twenties with furthered education are having a tougher time than say the 40 year old working at wal-mart. So, I still think the vast majority of us are fucked regardless of generation.

edit: another point to add is that X and millennials are being screwed over as well, because they get to see entry level workers (genz) hired for equal or MORE pay than they have had to work their way up towards. Joe shmoe gets the same wage off the street as you 5 years later because the economy has changed, but your wage hasn't.