Poll Finds 8 in 10 Young Adults Pessimistic on Economy
A new survey from Generation Lab found that more than 8 in 10 young adults believe economic conditions in the United States are either bad or terrible.
The poll, conducted April 26-29, surveyed young Americans across multiple age groups. Among the 546 respondents ages 18-24, 55 percent described the economy as bad, while another 29 percent called it terrible.
Views were similarly negative among respondents ages 25-29. Of the 266 people surveyed in that age group, 52 percent said the economy was bad and roughly 30 percent labeled it terrible. Combined, 81 percent expressed a negative opinion of the economy.
Only a small fraction of respondents viewed conditions positively. Just 2 percent of those ages 18-24 and 1 percent of those ages 25-29 said the economy was excellent. Meanwhile, 14 percent of younger respondents and 19 percent of those ages 25-29 rated the economy as good.
Inflation climbed to 3.3 percent in March, up nine-tenths of a percentage point from February. Gasoline prices also rose sharply, increasing 18.9 percent after falling year-over-year during the previous three months.
Gas prices in the U.S. have continued to climb since the outbreak of the U.S.-Israeli conflict with Iran, after Iran’s military placed restrictions on shipping through the Strait of Hormuz. The disruption shook energy markets, pushing national gas prices above $4.45 per gallon on Monday, according to AAA.
President Trump said Sunday that the U.S. military would assist ships traveling through the vital waterway. Iran responded after the operation began Monday.
When asked who is responsible for the economy’s condition, respondents ages 18-29 most frequently blamed Trump and “corporate greed/large companies.”
More than 40 percent of respondents ages 18-24 pointed to the president, while about one-third blamed corporations and corporate greed. Just 2 percent blamed former President Biden. Congressional Republicans received 9 percent of the blame, while congressional Democrats and the Federal Reserve each drew 2 percent and 1 percent, respectively.
Among respondents ages 25-29, one-third blamed Trump and another one-third blamed corporations and corporate greed. Biden and congressional Republicans each received 8 percent of the blame. Congressional Democrats accounted for 3 percent, while 2 percent blamed the Federal Reserve.
Overall, Generation Lab surveyed 1,002 adults ages 18-34 for the poll. The survey’s overall margin of error was 3.1 percentage points, though the organization noted that subgroup margins of error were higher.
