There is a new book out called Better than Sex: How a Whole Generation got Hooked on Work.
The thesis seems to be that for some people work is so satisfying that they are hooked on it, 24/7 to the exclusion of all else. "It decides status, adds or detracts from meaning. It has eaten up all the available space in society and become the defining institution, taking over from religion, family, politics and culture."
Certainly most people go through stages where work is all absorbing and demanding but on a long term basis that must damage a person's life.
Contrast that theory with Downshifting a study by the Australian Institute which identifies a group of people who are actually changing careers and accepting less money to lead a balanced life.
Perhaps both studies just show that people think more today about their careers and their life values.