Young vs Old, on Job Optimism

Job optimism has reversed in the United States in recent years. Historically, the young are usually more optimistic. They’re more flexible, have fewer physical limitations, have the entire job ladder ahead of them, and are up on the latest tech and knowledge. However, attitudes and realities don’t always align.

In the United States, 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. Though I am older, I’d have to agree with the younger generation. AI is changing the game, and job hiring seems to be decided by algorithms rather than department personnel making smart decisions. Strangely, throughout the rest of the world, younger people are more confident than their elders, according to the extremely limited sampling by the Gallup poll.

In the U.S., younger voters have focused on economic issues such as housing costs. However, housing issues need to be separated from job prospects. While there may be a correlation, it’s two different issues. Not having a job is an issue even if one is living at home while in their 20’s or beyond.

The U.S. is one of only five countries where younger people are at least 10 points more pessimistic about the availability of work than older ones, joining China, Hong Kong, Norway, Serbia and the United Arab Emirates. 141 countries were surveyed.

Every U.S. age group registered a drop in confidence since 2022, far more so for the younger group. The drop for younger people is comparable to the their rate of decline during the 2008 global financial crisis.

In 2008, both groups lost confidence at an equal rate, but today, the older group’s optimism remains much sunnier. That seems only natural – they already made their mark in the world, or at least should have. If they have saved, and/or have already paid off a mortgage, they have reason for confidence.

John Della Volpe, a pollster for Harvard Kennedy School’s Institute of Politics, said young people are frequently frustrated at how prior generations don’t understand their current economic challenges. Sorry, but we do. My generation lived through 53% inflation that occurred from 1978-81, as well as 18% interest rates. However, understanding challenge and sympathy for such are two different things. My generation, as all others, learned how to “suck it up and move on.” We expect the same of today’s youth. Life has been difficult for every generation starting out. If today’s youth think otherwise, then their politicians, teachers, and parents have failed to teach them reality.

The most frustrated groups of young people are those who haven’t secured a first job yet, especially those with a college degree. However, stay positive, be alert, network. Start your own business if you must, but realize that running your own business successfully is more than a 40-hour workweek.

Life is a journey. Schooling is the planning phase, the next phase is to put yourself out there. Be positive, start walking. You can conquer!

Source used: Associated Press, Linley Sanders