Gen Z's Economic Insecurity Fuels Anxiety and Distrust

The Harvard Kennedy School's 51st edition of the Harvard Youth Poll, considered a gold standard by many, has revealed a disquieting conclusion about the state of Gen Z and young millennials in America. The poll, conducted among 2,040 young people aged 18 to 29, found that a significant majority of respondents reported feeling deep economic anxiety, eroding trust in institutions, and fraying social bonds. According to the survey, more than four in 10 young people (43%) say they are struggling financially, while only a small share of young Americans think the country is headed in the right direction. A clear majority of respondents, 57%, say the United States is on the wrong track, or are unsure where it is going at all. The poll's findings suggest that economic insecurity is a defining characteristic of this generation, with many young people feeling uncertain about their financial futures. "The data is clear: young people are anxious about their economic prospects, and they're skeptical that the systems in place are working for them," said Stephen Faris, a research associate at the Harvard Kennedy School. "This is not just a passing phase of early adulthood, but a fundamental aspect of their daily lives." The poll's results are consistent with other studies that have highlighted the economic struggles faced by young people in the United States. According to the Federal Reserve, the median wealth of households headed by someone under the age of 35 has declined by 35% since 2007. The Harvard Youth Poll's findings suggest that this economic insecurity is having a profound impact on the mental health and well-being of young people. The poll's results also highlight the deepening distrust of institutions among young people. Only 22% of respondents said they trust the government to do what is right, while 45% said they trust the media to provide accurate information. This lack of trust is particularly concerning given the critical role that institutions play in shaping the lives of young people. The Harvard Youth Poll's findings have significant implications for policymakers and educators. As the poll's authors note, "the data suggests that young people are not just anxious about their economic prospects, but also skeptical that the systems in place are working for them." This skepticism is likely to have far-reaching consequences for the country's social and economic fabric. The poll's results are also a reminder of the need for policymakers to prioritize the economic and social needs of young people. As Stephen Faris noted, "the data is clear: young people are anxious about their economic prospects, and they're skeptical that the systems in place are working for them." By addressing these concerns, policymakers may be able to build trust and confidence among young people, and help them feel more secure about their futures. The Harvard Youth Poll's findings are a critical reminder of the need for policymakers to prioritize the economic and social needs of young people. As the country continues to grapple with the challenges of economic insecurity and institutional distrust, it is essential that policymakers and educators work together to address these issues and build a more secure and prosperous future for all Americans.