From Fortune:

According to a survey of more than 2,000 16 to 25-year-olds in the U.K. by The Prince’s Trust annual NatWest Youth Index 2024, Gen Zers are being forced to turn down job offers due to the costs associated with starting a new job, including necessities such as work-appropriate clothes and travel expenses.

The cost of living is causing anxiety and limiting career aspirations for Gen Z, as 1 in 10 unemployed youth have had to turn down a job due to related costs. Money confidence is at a record low, with over half fearing they’ll never be financially secure and a third stressed about just thinking about money.

Consequences of the current economic climate are leading young workers to turn to TikTok for money advice, with the number of 16-25-year-olds using the platform for financial tips doubling since 2022. The trust says this is impacting the mental health of young workers.

Mental health struggles are the second biggest killer of dreams for Gen Z, as 40% of respondents suffer from mental health issues and a third worry it will stop them from achieving their career goals. Unemployed youngsters find themselves in a cycle where poor mental health is impacting their ability to work.

A significant number of young workers are struggling with their mental health, with one in five missing work due to mental illness, 18% feeling unable to apply for jobs, and 12% not being able to go to interviews. For young people from poorer backgrounds, mental health challenges often result in quitting jobs.

Separate research has found that young workers are missing an equivalent of a day’s work every week due to mental health struggles, leading to 50 days a year where they’re mentally absent.

The research “presents a window of hope,” according to Jonathan Townsend, U.K. chief executive of the Prince’s Trust, who says Gen Z has outlined exactly how employers can step in to help them. Support with securing work experience, advice on CV-writing and conducting interviews, and training on job-specific skills can be beneficial.



Read more: Unemployed Gen Zers are having to turn work down because they can’t afford the commute and uniform, report shows