Young Adults Fret Over Jobs, Haven’t Lost Hope
Young people are worried about bringing up the rear their jobs and paying their bills, but they?re still holding out hope that conditions will increase.
Some 60% of 18- to 29-year-olds said they were worried about paying their bills and meeting other obligations in this economy as dread of job loss still looms large, a new poll by Harvard?s Institute of Politics shows. Nearly half, 46%, said they?re concerned about bringing up the rear their jobs.
An even larger share ? 67% — said they feared that family members or friends might lose their jobs. And 58% said they were personally concerned about being able to meet the expense of housing.
Those college students surveyed also said they were worried about being able to stay in school. Of the young adults that were enrolled in four-year colleges, 45% said they were concerned about their ability to stay in college. Another 34% said they weren?t concerned.
They were even more pessimistic about the state of the labor market once they graduate. Just 14% of those college students said it would be simple to find a permanent job after graduation, while 85% said it would be hard. That?s down from nearly a third who said finding a job would be simple in the jump of 2008.
Lodged among their long list of concerns, though, were hints of optimism. The majority, 52%, said their personal financial situation was excellent, compared to the 45% who said it was terrible. An even larger 57% said their parents? financial situation was also excellent.
Nearly half, 46%, also said they expect to be better off financially than their parents. Just one in 10 expect to be worse off.
They were divided on how soon the economy would turn around. Nearly a quarter of young people said the economy would get worse in the next year. Another 38% said it would stay the same and 36% said it would get better.
The survey was conducted between Jan. 29 and Feb. 22. It covered 3,117 young adults and has a margin of error of plus or minus 2.3 percentage points.