Pew Study: Young Adults Optimistic Despite Underemployment
There’s a tepid optimism brewing in this country. The latest jobs report showed an economy in recovery–a sluggish recovery but still a recovery–and now new numbers from the Pew Research Center suggest even those hardest hit are finding bright spots.
The study focused on the impact of the recession on young adults and found that the number of young adults ages 18-24 currently employed is at its lowest since the government began collecting data in 1948 and large majorities of the public say it is harder for young adults to reach many of the basic financial goals their parents may have taken for granted.
Yet despite this glum news 88% of young adults say they either have or earn enough money now or expect they will in the future?
The findings mark similar trends of optimism in other populations hard hit by the recession.
Adults ages 35 and older are much less optimistic with 28% saying they don’t anticipate making enough money in the future.
One explanation in the increased pessimism in adults could be the cost of raising children. Daycare costs make saving for college impossible and the price of college tuition makes attending more and more difficult. With nearly one-third of this population feeling the pinch, parenthood is a reasonable link.
Photo from sterling college via flickr.