Money worries are plaguing young people and having a serious impact on their mental health, a study has found – with those in the north of England being hardest hit.
Low pay, fears over the future and a struggle to make ends meet are causing disturbing rates of depression and anxiety according to a major new report by charity Young Women’s Trust.
Nationally, 34 percent of young people say it’s a real struggle to make their cash last until the end of the month – but in the north east the figure creeps up to 41 percent while in the north west, 37 percent of young people admit it is difficult to stretch their money.
The charity says depression rates among people aged 18 to 30 are also alarming, especially in the north, with 29 percent of young people in Yorkshire and the Humber, 24 percent in the north east and 23 percent in the north west confessing to feeling currently depressed, compared to 18 percent in the east of England, 20 percent in south west England and 21 percent in London.
Nationally, 33 percent of young people feel more anxious than this time last year, but again figures are higher in the north east (42 percent) and north west (37 percent).
Dr Carole Easton OBE, Young Women’s Trust chief executive, said: “The traditional stereotype of youthful swagger and optimism seems to have been replaced by worry and anxiety. Perhaps this is not surprising given that young people are facing serious financial troubles and uncertainty about their future.
“Low pay, insecure work and housing pressures are leaving young people struggling to make ends meet, which is having a terrible impact on their mental health.”
More than half of young people in the north east, north west and Yorkshire say they are worried about their future, compared to 48 percent nationally.
The findings were revealed in a Populus Data Solutions survey of 4,000 young people for Young Women’s Trust which supports young women on low or no pay.
Their report ‘It’s still a rich man’s world’ shows that despite the #MeToo movement and reforms including gender pay gap reporting, millions of women continue to lose out in the workplace – and mental health inequalities have got worse.
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Source:: The Huffington Post – UK Tec