Young Americans Still Somewhat Optimistic Despite Bleak Economic Outlook

A new poll released by Young Invincibles, a non-partisan, non-profit youth organization that seeks to expand opportunity for all Americans ages 18-34, and Demos, a non-partisan public policy research and advocacy organization, reveals some startling statistics about young Americans in the current economy.

In a press call Wednesday, pollsters said this latest poll is the most comprehensive look at how young Americans view the current economy and the future.

Despite bleak findings, young Americans appear optimistic about the future.

Of the 872 young people ages 18-34 polled, 48 percent believe that their generation will be worse off than their parents’ generation. Only 22 percent expect a better economic standing for their generation. Interestingly, it was whites who were the most pessimistic; 55 percent expect worse conditions than their parents and a mere 12 percent believe their generation will be better off. Despite these views, few have given up the hope of achieving the “American Dream.” 77 percent of young people believe they can personally achieve the American Dream, and this belief held equally across the races polled.

Only 51 percent of the participants in the poll believe that all Americans have an equal shot at being successful. 31 percent believe that you are born into one economic group and are likely to stay there. Men were more optimistic on this front than were women.

13 percent of those polled are completely unemployed and only half of young workers have seen increased earnings over the past four years.

The press call focused on the fact that graduation rates are low with a national average of around 55 percent. Aaron Smith of Young Invincibles pointed to the fact that student debt is climbing at alarming rates. Two-thirds of students today have some student loan debt, compared with just one-third in the 90s. Student loan default rates are at 9 percent.

Smith also pointed out that the United States now ranks only 12^th in the world for having associates degrees or higher education.

The study also asked the political affiliations of the participations. Democrats held the advantage here. 40 percent said they identified as a Democrat, only 23 percent identified as a Republican, and 18 percent identified as Independents.

The young people polled showed strong agreement in the policies Congress should be focusing on. Number one on the list was job creation and growing the economy. Also among the top priorities was making a college education more affordable and making post-high school education and training more affordable.

This poll data could have implications for the 2012 election. 66 percent of participants said they were ‘very likely’ to vote in the presidential election Here, Republicans held a slight advantage. 76 percent said they were likely to turn out, compared to 66 percent of Democrats and 55 percent of Independents.

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