Gen Z is burned out and Broke, but boomers don’t accept it
Across the U.S., younger adults are reporting steep stress around work, rent, and debt as inflation and borrowing costs stay elevated in 2024. That divide is especially visible in new survey data comparing Gen Z workers with baby boomers, and it helps explain why the two groups often talk past each other on burnout and money.
Survey data shows a clear generation gap
A May 2024 Deloitte Gen Z and Millennial Survey found 40% of Gen Z respondents said they feel stressed all or most of the time, while 52% said they live paycheck to paycheck. In the same report, financial insecurity and long-term cost of living pressure ranked among the biggest concerns for Gen Z adults surveyed across 44 countries, including the U.S.
Older Americans often report a different outlook in national polling. Gallup stated in 2024 workplace findings that younger employees are more likely than older workers to report daily stress and lower engagement, while Pew Research Center has repeatedly found older adults are more likely to describe younger generations as too easily offended or less resilient.
That disconnect matters because it is showing up in everyday spending. Bankrate reported in 2024 that Gen Z adults were the least likely generation to have emergency savings that could cover three months of expenses, a benchmark commonly used by financial planners in the U.S.
The money pressure is easy to measure
Housing is a major part of the strain. Zillow said in 2024 that U.S. rents remain far above pre-pandemic levels, and Redfin reported that home prices hit record highs in several metro areas during the spring market, making ownership harder for first-time buyers in cities from Phoenix to Tampa.
Debt is another measurable pressure point. Federal Reserve data showed credit card balances topped $1.12 trillion in the first quarter of 2024, and New York Fed researchers said delinquency rates have been rising, particularly among younger borrowers and lower-income households.
Wages have grown, but not enough to erase the gap. The U.S. Bureau of Labor Statistics reported in April 2024 that average hourly earnings were up 3.9% year over year, while many households were still absorbing higher costs for groceries, auto insurance, and interest payments.
What this means for daily life right now
For younger adults, the result is often delayed milestones. Census Bureau and housing data through 2024 show many people in their late teens and 20s are taking longer to move out, marry, buy homes, or build savings than earlier generations did at the same age.
For older adults, the disagreement is not always about whether prices are high. It is often about whether current burdens match what younger workers describe, especially when tuition debt, post-2022 rent increases, and 7% range mortgage rates did not shape the same life stage for many boomers in the 1970s or 1980s.
The broad takeaway is that both attitudes and hard numbers are driving the debate. As 2024 data from Deloitte, the Federal Reserve, Gallup, and Bankrate continues to show, Gen Z is reporting real financial and mental strain, even when some older Americans remain unconvinced.
