Burnout is now recognized as a legitimate medical diagnosis according to the International Classification of diseases from the World Health Organization. Topping the list of burnout factors for millennial men and women are financial and career stresses according to a new study from Lhasa OMS.
They recently surveyed 2,000 millennials to learn more about their current stress levels, the impact stress has on their day to day lives and the coping methods they turn to. Let’s take a deeper dive into what they found.
In his 2021 year-end letter, Baupost's Seth Klarman looked at the year in review and how COVID-19 swept through every part of our lives. He blamed much of the ills of the pandemic on those who choose not to get vaccinated while also expressing a dislike for the social division COVID-19 has caused. Q4 2021 Read More
The analysis found that 80% of millennials experience stress several times per week with 40% saying they actually experience stress every single day! Millennial women report a slightly higher stress level than millennial men with 86% of women reporting stress multiple times a week when compared to only 73% of millennial men.
One interesting takeaway from the analysis is that 78% of millennials believe life to be more stressful today than for previous generations. Millennials cite debt, a competitive job market and expensive healthcare as the top factors leading to daily stress. Millennials are also stressed out about the future of the nation, the current political climate, the future of the planet, tech overload, dating, identity theft, cyberbullying among other factors.
Despite being overly stressed out multiple times a week, only 12% of millennials regular set time aside to de-stress. What’s even more alarming is that 1 in 5 millennials currently feel that they don’t have a support system to rely on and of those who actually have a support system…. only 40% actually use it for fear of being a burden to others.
The study also found that finances and work pressure are the top stressors for both millennial men and women in the United States. 91% said that a higher income level would actually make them feel less stressed. I guess this is further proof that money can actually solve some problems, at least in the minds of American millennials.
The study also looked at some of the side effects from stress. Anxiety, a feeling of being overwhelmed, anger/irritability, loss of motivation and focus and depression are said to the top emotional side effects. Social withdrawal, poor communication, changes in diet, drug or alcohol use and missing commitments were listed as the top behavioral side effects. Fatigue, insomnia, physical burnout, restlessness and increased headaches were the top physical effects.
To see the full analysis on millennial stress from Lhasa OMS, check out the graphic below.