For six out of ten people among generations Z (centennials born between 1995 and 2010 ) and millennials (born between 1981 and 1995) The cost of living is presented as the main concern, although they are optimistic that the financial situation may improve next year. This is revealed by the Gen Z and Millennials 2024 survey, carried out by Deloitte Global.
According to the report, 56% of the Z and 55% of the millennials consecutively “they live making payments.” It also indicates that three out of ten do not feel financially secure; However, for next year, 48% of the Z and 40% of the millennials They expect their personal financial situation to improve.
These are the cities in Ecuador with the highest cost of living
For example, in Ecuador the reference for the cost of living is defined by the basic family basket, which in May at the national level was $799.73, according to the report from the National Institute of Statistics and Censuses (INEC), which also details by city.
Based on the main cities, the highest is Cuenca, where it was $832. Followed by Quito, at $826.82, and in Guayaquil, $814.52.
In the Deloitte Global survey, in which almost 23,000 people from both generations participated (Z with 14,468 and millennials with 4,468) from 44 countries in North America, Latin America, Western and Eastern Europe, the Middle East, Africa and Asia-Pacific, other findings were also presented, according to Deloitte’s global director of People and Purpose, Elizabeth Faber.
The executive commented that this year’s survey highlights two generations that “struggle with financial insecurity, high levels of stress and growing climate anxiety.” In addition, they are looking forward to how technology, generative artificial intelligence (AI), will affect their jobs and professional decisions in the long term.
He added that despite this scenario, “they see reasons to be optimistic in the coming year and continue to push for visible changes in their workplace and in society in general.”
Work satisfaction
For 86% of the Z and 89% of the millennials, “Purpose is key to satisfaction and well-being in the workplace” and therefore “it is increasingly common for these generations to reject jobs or employers based on their ethics or personal beliefs,” which is reflected in the data obtained from the survey.
50% of Generation Z and 43% of millennials They have rejected jobs. Likewise, 44% of the Z and 40% of the millennials They said they had rejected their employers.
Boost climate action
62% of the Z and 59% of the millennials They “feel anxious or worried about climate change” and to counteract this situation, they use their professions and consumer habits to drive action.
Likewise, the report indicates that 54% of the Z and 48% of the millennials They indicated that together with their colleagues “they pressure their employers to take action on climate change.”
Environmental concern has led, according to the survey, to 20% of the Z and 19% of the millennials change jobs or industries, while a quarter plan to do so in the future.
Generative artificial intelligence
The evolution of technology is also part of the topics discussed in the interviews and as a result they show that 59% of the Z and 52% of the millennials They believe that generative AI will encourage them to look for job opportunities with “less tendency to become automated, such as skilled trades or labor.”
Although they do not give a figure, they point out that women of both generations express “greater concern and are less likely to be comfortable working hand in hand with it” about this type of technology, contrary to those who already use it. However, for this group there are also concerns, as they believe that “automation will eliminate jobs and make it difficult for young people to enter the workforce.” (YO)
