2025 Report: Over 50% of Gen Z and Millennials Live Paycheck to Paycheck Amid Economic Uncertainty
A 2025 Deloitte study reveals that more than half of Gen Z and millennials struggle to make ends meet, living paycheck to paycheck, with concerns about the economy worsening and housing affordability declining.
Bill McColl brings over 25 years of expertise as a senior producer and writer across TV, radio, and digital platforms, leading teams in delivering impactful news coverage on major stories.
Essential Insights
- More than half of Gen Z and millennial respondents in Deloitte's 2024 survey report living paycheck to paycheck and anticipate the economy will either stagnate or deteriorate in the coming year.
- Rising living costs top their social concerns, surpassing worries about unemployment and climate change.
- Approximately 46% of Gen Z and 37% of millennials have taken on additional part-time or full-time jobs alongside their primary employment to cover expenses.
The Deloitte 2024 findings highlight that economic pressures are impacting younger generations significantly, with fears that a potential recession could limit opportunities for raises, flexible work arrangements, and job changes.
Half of Gen Z respondents (50%) and nearly half of millennials (47%) expressed concerns that economic challenges may hinder their plans to start families.
With borrowing costs rising, 61% of Gen Z and 62% of millennials foresee homeownership becoming increasingly unattainable.
Survey participants identified the cost of living as their foremost social issue, followed by unemployment and climate change.
Michele Parmelee from Deloitte emphasized that Gen Z and millennials are navigating a unique set of challenges at critical life stages involving career growth, family development, and caregiving responsibilities.
Despite a strong desire for improved work-life balance and reduced working hours, over one-third of millennials (37%) and nearly half of Gen Z (46%) have taken on extra jobs to meet financial demands.
If you have news tips for Investopedia reporters, please reach out at tips@investopedia.com.
Explore useful articles in Personal Finance News as of 22-05-2023. The article titled " 2025 Report: Over 50% of Gen Z and Millennials Live Paycheck to Paycheck Amid Economic Uncertainty " offers in-depth analysis and practical advice in the Personal Finance News field. Each article is carefully crafted by experts to provide maximum value to readers.
The " 2025 Report: Over 50% of Gen Z and Millennials Live Paycheck to Paycheck Amid Economic Uncertainty " article expands your knowledge in Personal Finance News, keeps you informed about the latest developments, and helps you make well-informed decisions. Each article is based on unique content, ensuring originality and quality.