A survey of millennials by global accountancy firm Deloitte has found that 48% expect the overall economic situation in Ireland to improve over the next 12 months - a decrease from last year's result of 56%.
Only 40% of Irish millennials believe that they will be financially better off than their parents, while just 31% believe that they will be happier than their parents.
The survey also reveals that only 29% are optimistic that the overall social and political landscape in Ireland will improve by the same time next year.
It also showed that less than one third of millennials think that business leaders are committed to helping improve society, while two thirds believe that businesses have no ambition beyond just wanting to make money.
Almost half of the survey’s respondents agreed that businesses should contribute to generating jobs, but under a quarter believed that their own organisations prioritised this.
"Our results indicate that younger workers are increasingly uneasy about the future, pessimistic about the prospects for economic, political and social progress, and have growing concerns about safety, social equality, and environmental sustainability," commented Valarie Daunt, a partner at Deloitte.
"Millennials are looking to business leaders to drive societal and economic change, presenting an opportunity for organisations to attract, retain and engage this generation," she added.
Millennials included in the study were born between January 1983 and December 1994. The research findings are based on a study conducted by Deloitte Global of 10,455 millennials across 36 countries with 202 Irish people participating.