Based on a report based on findings of a survey by the Pew Research Center, some of the key findings include:
- A plurality of the public (41%) believes young adults, rather than middle-aged or older adults, are having the toughest time in today’s economy.
- Large majorities of the public say it’s harder for young adults to reach many of the basic financial goals their parents may have taken for granted.
- While negative trends in the labor market have been felt most acutely by the youngest workers, many adults in their late 20s and early 30s have also felt the impact of the weak economy.
- In a 1993 Newsweek poll, 80% of parents with young children said children should be financially independent from their parents by the age of 22.
- Among those ages 18 to 34, nearly nine-in-ten (88%) say they either have or earn enough money now or expect they will in the future.
- If any age group has weathered the economic storm better than others, it has been adults ages 65 and older.
- For those young adults who are employed, most are relatively satisfied with their job.
Taylor, P., Parker, K., Kochhar, R., Fry, R., Funk, C., Patten, E., & Motel, S. (2012). Young, underemployed and optimistic: Coming of age, slowly, in a tough economy. Washington, D.C.: Pew Research Center. http://assets.pewresearch.org/wp-content/uploads/sites/3/2012/02/young-underemployed-and-optimistic.pdf