Job Market Optimism Among Younger Adults Drops To Great Recession Levels

EconomicActivity

According to a recent Gallup World Poll, the gap between younger and older Americans’ view of the job market has become greater than in any other country among the 141 surveyed, with younger people seeing a much bleaker outlook than older people.

“43% of those aged 15-34 believe it’s ‘a good time’ to find a job in the area where they live, well below the 64% of those aged 55 and over who say the same,” PBS said of the poll on Monday.

Generally, younger people are more optimistic of finding work than older people, due to being more physically active and having less family responsibilities. While previous financial downturns have resulted in a similar drop in confidence amongst all age groups, the recent divergence is notable as it happened very quickly in 2023.

“The divergence between younger and older Americans happened suddenly,” PBS said. “Every U.S. age group registered a drop in confidence in the job market after 2023 — following a post-COVID rebound in 2021 and 2022 — but those 34 and younger saw the largest decline in recent years. The share of younger Americans saying it was ‘a good time’ to find a job plunged by 27 percentage points from 2023 to 2025. That’s comparable to the rate of decline for young people during the 2008 global financial crisis, which also saw a drastic drop in confidence for older Americans. But that hasn’t happened in the last few years. In fact, older Americans’ views have barely dropped.”

Notably, the older generations see the current economy more favorably than younger generations – a possible result of the economic phenomenon known as total boomer luxury communism.

“Older Americans also have a sunnier view of the economic landscape more generally, according to recent AP-NORC polling. About 8 in 10 adults under 35 describe the U.S. economy as very or somewhat poor, according to an AP-NORC poll conducted in April. Only about 6 in 10 adults 55 and older say the same, although a majority still see the U.S. economy negatively,” PBS said.

Following the mortgage-backed derivatives crisis of 2008 and the banker bailout (effectively a banker bonus) of 2009, the Great Recession of 2010 saw economic stagnation and a massive drop in job market confidence. A very similar trend is being seen today, fueled by legal immigrants taking jobs, lowering wages, increasing home prices right before AI makes human-led jobs obsolete.

“Younger Americans’ job market views now register close to the level they did in 2010, when the country was still deep in the Great Recession. This is not the first Gallup poll to find striking levels of pessimism among young Americans — they also register notably high levels of anxiety about pocketbook issues compared with people their age in other countries,” PBS said. “A separate Gallup survey on perceived U.S. job prospects found pessimism emerging at the end of 2024 and continuing into 2025. That coincides with the beginning of President Donald Trump’s second term and the rise of artificial intelligence, which many fear will transform the labor market and eliminate many entry-level jobs.”

While Trump appeared to be an economic savior in 2024, promising mass deportations and no new wars, both the immigration and military promises have fell by the wayside as the administration seeks to fast track data center construction in the push to replace humans.

“About 8 in 10 adults under 35 disapprove of how Trump is handling the economy and the cost of living, the recent AP-NORC poll found, compared with about 6 in 10 older adults,” PBS said.


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