Pessimism is plaguing millennials across the globe, according to Deloitte’s 2017 Millennial Survey.
According to the survey that polled 8,000 adults from 30 different countries born after 1982, millennials overall are worried about the future of their countries and are concerned about topics of terrorism, economics, war and political tensions.
In mature markets, only 34 percent of those surveyed expect economic conditions to improve over the next year and only 36 percent predict the same for social and political situations within their countries.
After a year of political, economic and social upheaval, it is no surprise that young adults are feeling troubled. In fact, when asked by researchers to think about the state of the world in general, respondents in only 11 of the 30 countries predicted that they would be “happier” than their parents.
Ironically, one of those 11 countries is the United States.
Dr. Andrea Bergstrom, a lecturer in the Communication, Media and Culture Department at Coastal Carolina University, said that this could be due to an overarching sense of entitlement that exists among the youth in America.
“In terms of mental preparation, I don’t think younger generations are in any way prepared,” said Bergstrom. “They have always been told that if you work hard and you do what you’re supposed to do, then your life will be great—the American Dream. You’ll have your house and your 2.5 kids and your fence and all that crap, but that is also, I would argue, a kind of privileged way of thinking to begin with…They haven’t been prepared for the possibility that their lives may not be better than their parents.”
Although young adults in the U.S. may not feel as distressed as those in other mature markets, Bergstrom argues that there is reason to be concerned.
“You have been told your whole life that you’re going to be able to do this, and you’re going to achieve that, and your life is going to be great and everything is better for each generation,” said Bergstrom. “This is the first generation in memorable recent history that that’s not going to be the case.”
Millennials, having lived through the 2008 economic meltdown, are increasingly worried about the job market. Because of this, young adults, who statistically prefer the advantages of working as freelancers or consultants, are now seeking full-time employment.
According to the survey, two-thirds of respondents said they would prefer a stable, full-time job over the flexibility of freelancing.
Bergstrom said that with the recent economic past, it makes sense that students are seeking full-time employment.
“I think particularly with the recent unstable economic past, I think students have seen a lot of their parents have financial hardships that they hadn’t seen before or anticipated when they were younger,” said Bersgtom. “And I think that is an important realistic shift. I’m not saying people shouldn’t try to be entrepreneurs. I think that’s great. But, you really can’t have it both ways.”
Senior Lindsey Hanks echoed the results of the survey.
“I would much rather have a full-time career and job security than ‘job-hop,’” said Hanks. “I don’t want to have to constantly be worried about keeping my job or looking for a new one, or worried about money and having enough of it.”
While unemployment and economic issues are serious concerns among millennials, according to the survey, terrorism is the number one worry. Collectively, 56 percent of respondents cited war, terrorism and political tension to be their top concern.
What is particularly interesting is that in 2014 the results showed that only 15 percent identified terrorism as one of the world’s prominent challenges, while a majority considered the environment and resource scarcity to be the top concern.
Senior TJ Kilbride explained that this is troubling to him.
“Most millennials are afraid of terrorism more so than environmental issues, which is very concerning to me,” said Kilbride. “But what is even more concerning is that millennials are more concerned with terrorism than unemployment. That really worries me because that may lead people to not really think about what might happen if there is something that makes them lose their job. These are things that we should really be focusing on and less on what the media is trying to make us focus on.”
Despite the overall feeling of negativity among millennials, the survey states that young adults are the ones who incite the most change, especially within the working world. This is due to the fact that millennials are better with technology and more creative than their counterparts.
“The Millennials covered by the survey are not mere observers; increasingly and collectively, they have the potential to change the world around them,” the study states. “This is especially true within the workplace—once again, business has the potential to be a force for positive change that shines through as a core belief of the Millennial generation.”
Similar to the survey respondents, Hanks believes that millennials were raised to be more creative and technologically savvy.
“I think people in our generation were encouraged early on to be creative, instead of having our dreams or creativity stifled,” said Hanks. “We also never grew up without technology, so we’re able to grasp concepts about computers, smart phones, devices, and the internet, a lot quicker than others.
While statistically millennials are more capable in these aspects, it is concerning to some that many young adults expect to be successful without putting in the time and effort needed.
Bergstrom explained that it is going to take more than these skills to pay the bills.
“I think that there is a huge tech savvy that is more innate if you’ve grown up with it,” said Bergstrom. “And I do think there is a lot of creativity. I think being able to meld those two things leads to a lot of opportunities once you’re in the door…There are some that just want to skate through whatever this experience this is and think on the other side that things are going to be great. That’s the piece of it that concerns me. But I think there’s a lot of opportunity for people who want to put their head down and work for it.”