For Old and Young Americans, the Economy Couldn’t Look More Different

For Old and Young Americans, the Economy Couldn’t Look More Different

Older Americans’ are feeling optimistic about the outlook for the U.S. economy is increasing at a swift clip. However, the younger generation doesn’t feel the same way. The University of Michigan has measured U.S. consumer sentiment (how people feel towards our economy) for several decades. In the past, consumer surveys have shown Americans in their 20s and 30s more optimistic about the economy compared with their parents and grandparents. While consumer sentiment is still higher for younger households, it’s growing much faster for older ones. The theory behind this recent outlook is that partisanship is known influencing people’s view on the economy. Age is one of the many factors correlated with political party affiliation, with others including race and ethnicity, said Frank Newport, Gallup’s editor in chief.“Younger people who skew significantly Democratic have become less positive than they were in the Obama years and 65-pluses have become somewhat more positive,” Mr. Newport said. This new shows that partisanship and political affiliation run much farther than the ballot box.

 

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