Generation Z and millennials matured during financial crises, including the early 2000s recession and the COVID-19 pandemic. Younger Americans form the largest share of the labor force and are set to surpass previous generations in educational attainment. Many express reduced belief in the American dream. A Marist poll found 7 in 10 Gen Zers and nearly 6 in 10 millennials report jobs are difficult to find. Home and rental prices have outpaced wages for two decades, producing fewer young homebuyers and raising the median age of first-time buyers from 28 in 1991 to 38 last year. Affordability concerns are shaping life choices and political views for adults under 40.
Generation Z and millennials have come of age during periods of financial uncertainty, from the recession in the early 2000s to the COVID-19 pandemic. Now, as these generations navigate adulthood, how much are financial barriers standing in their way? Younger Americans make up the largest share of the labor force and are on track to surpass previous generations in educational attainment.
But they're also less likely to believe in the American dream, according to Pew Research Center. Many worry about finding work. A recent Marist poll found that 7 in 10 Gen Zers say jobs are difficult to find right now, along with nearly 6 in 10 millennials. Housing is also a concern. Home and rental prices have outpaced wages over the last two decades. Plus, fewer young people are buying homes.
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