Gen Z more stressed about coronavirus than Baby Boomers and Millennials
Preliminary findings from a new report into the impact of the COVID-19 pandemic show uncertainty about lockdowns and financial stress are among the biggest concerns
MELBOURNE, AUSTRALIA, 22 April 2020 – While older age groups face the biggest health risks from the virus itself, and Millennials and Generation X are navigating the dual challenges of remote work and home- schooling, it is 18- to 24-year-olds who have reported the highest levels of stress in the early weeks of the COVID-19 pandemic.
This is one of the preliminary findings from the COVID-19 Social Impact Report, released today by impact- monitoring technology company Socialsuite. The report is based on data from more than 400 organizations across the globe who have signed up for their free COVID-19 Social Impact Assessment tool, which provides businesses with real-time insights into how their own stakeholders and other organizations around the world are handling the pandemic.
Across all respondents, two out of three people surveyed reported their stress levels at 7 out of 10 or higher. Those aged 18-24 were more likely to report this stress rating, followed by 55- to 64-year-olds. Respondents aged 35-54 were less likely have a stress rating of 7 or more.
The most common causes of stress included uncertainty about when lockdowns would end; financial strain as a result of job loss and difficulties in securing future employment; the effects of the pandemic on vulnerable members of the community; and boredom and frustration arising from the inability to socialise with friends and relatives.
Other key findings from the COVID-19 Social Impact Report include:
52% say they are worried about being infected by the COVID-19 virus.
32% believe themselves and their family would not recover if they were to become infected.
37% feel their job is at risk as a result of the COVID-19 pandemic.
72% say their spending habits have changed since the pandemic began, with many now only spending on essential items.
28% say they are unable to continue providing for their families as a result of the pandemic.
55% believe social distancing has had a negative effect on their community.
36% say they do not feel safe going out.
Despite the panic-buying seen at the beginning of the crisis, only 1 in 5 respondents said they were worried about household supplies running out, with many people more concerned about access to medical care and services.
In a positive result for the public health campaigns that have been running throughout the pandemic, nearly 90% of people said they have access to accurate facts and information on when to get tested for COVID-19. The preferred source of information was official government sources and websites (24%), followed by online news sites (20%).
While it often takes months to collect and aggregate this type of data on a global scale, by using their automated impact management software, Socialsuite has been able to produce these insights in just three weeks.
“A rapidly evolving global crisis like the COVID-19 pandemic demands a quick response to enable organizations to effectively navigate the many challenges it presents,” said Dr Clara Ong, Socialsuite co- founder and author of the report. “Drawing on our existing software, which is already being utilized by many organizations globally to monitor impact, we could begin collecting and analysing data almost immediately.”
The COVID-19 Impact Assessment tool is designed to provide continuously updated data throughout the pandemic, monitoring impact across six key areas: resilience, loneliness and social isolation, anxiety and fear around mortality, employment and income, access to basic needs and services, and sense of community and safety.
After completing the baseline survey, respondents are sent automated follow-up surveys at regular intervals to track changes over time. Organizations can monitor their results through their own private dashboard, as well as getting an overview of broader trends through a global aggregated dashboard.