My guess is young people have more pressures now. More in school, which includes pressure from parents to get good grades, pressure to excell, pressure socially to fit in. Our society is more technology oriented and less farm communities. In addition possibly there are smaller amounts of mom and pop businesses, which also has led to more pressure on education, and more pressure for people to figure out what they want to be when they grow up. When parents handed down businesses and trades I think maybe it was easier in some ways, but of course can be more limiting and stressful in others. The expectation now for people to go to college is much higher, so getting into college also has more pressure.
I also think the breakdown of the American family has greatly affected children and also both parents working with less availability of the extended family around. Women have always worked, except for a brief time around the 1950’s when we were in Leave it to Beaver world. But, previously there was more support in the family through grandparents, aunts and uncles. I think divorce might have some brief affect when the divorce is first happening, but studies show long term children of divorce do as well as children of married couples in almost all parameters. However, children born out of wedlock have a lot working against them, those children don’t do as well on average, and that stat has gone way up.
Economics I assume play a part also. There have been studies that people feel badly about themselves when the people around them have much more material things. A good portion of America is obsessed with always having the newest technology, the biggest house, and the most expensive car. For young children they notice what their parents have compared to others, and they know when they don’t have the expensive backpack or sneakers. Especially through the 80’s and beyond my impression is living on credit more ways than one to keep up with the Jones’ increased greatly. Plus, someone mentioned above that the elderly now have more stable economic conditions, which is true, but kids and young adults probably feel like they have less, or less control over their economics.
That brings me to control, I think a lot of young people feel out of control, which leads to anxiety and depression.