Sandra is feeling anxious and depressed. Her rent has just gone up again. Her student loan looks as if it will take a lifetime to pay off. She has no chance of buying a house. She worries about climate change. She hardly ever goes out with friends. The truth is that her best friend is her smartphone.

This is a common view of Generation ZPeople born between the late 1990s and early 2010s. . There is in fact a whole book on the subject by a New York psychologist, Jonathan Haidt, called The Anxious Generation. But while it has some truth, there is also a much brighter side to the story.

Generation Z is defined as those born between 1997 and 2012. It is so called because it is the second generation after what became known as Generation X - those born between 1965 and 1980.

In between the two is Generation Y (1981-1996), otherwise known as Millennials. And before them all come the Baby Boomers (1946-1964), who grew up in an increasingly prosperousExperiencing growth and success. era after World War Two.

Around the world, there are two billion members of Gen Z. Britain has 13.5m and the US 68m.¹

Addiction to smartphones is seen as a major problem for them. The flipside to this is that as digital natives - people who have known the internet all their lives - they are extremely well equipped to deal with a tech-centred world. This makes them highly employable.

"Those of Gen Z who are in work... are doing nicely," concludes The Economist. Red-hot demand for workers helps, as does the fact that Gen Z-ers are wisely acquiring marketable skills. More of them are pursuing science, engineering and medical degrees."

They are both more likely to have a university degree than their parents and to have a full-time job.

On top of that, they know that employers need them. This means that they are unafraid to demand better conditions, and to give up a job if they do not like it. Youth unemployment in the developed world is now at its lowest rate since 1991: 13%.²

The demand for young workers is reflected in their wages. In the US a typical 25-year-old has a household income of at least $40,000 - which, adjusted for inflationAn increase in the price of goods in an economy. , is over 50% more than a typical baby boomer had at the same age.³

They are also gaining influence. In the US over 6,000 of them are the heads of companies and 1,000 hold political positions.⁴

Will you have a better life than your parents?

Yes: You have much more freedom to change jobs and live how you want to. As digital natives you can use advances in tech to transform the world rapidly, particularly with regard to the environment.

No: To have a hope of owning a house and becoming financially secure you have to go for well-paid jobs which are incredibly stressful. The pandemic ruined education and damaged mental health.

Or... It depends where you live. If you look at emerging economies such as India's, young people are obviously healthier, better educated and more prosperous. The same is not true of developed ones.