Generation Z looks cynically into the future, as the cost of living is the most important election issue for the majority
Young Americans from Generation Z have expressed their frustration with the economy in a new report. (Photo by Paola Chapdelaine for The Washington Post via Getty Images / Getty Images)
Young adults of Generation Z are “Struggling to stay optimistic” about their economic future, a new report says, as rising living costs and unaffordable property prices force them to rethink their dreams.
“Since 2020, I feel like it’s been going downhill from here,” said Tashianna Allen, a 25-year-old aid worker from Minnesota who shares a home with her mother. The Star Tribune.
The Minnesota newspaper spoke to young adults who admitted that since 2020 they have become less confident about achieving financial security or reaching milestones such as own your own home.
Jami Mistic, 26, and Courtney Kujala, 27, told the newspaper that they had both struggled to pay their bills and afford groceries in recent years, despite working full-time and sharing apartments with friends.
Generation Z relies more on credit than Millennials and accumulates more debt
“It can be very frustrating because people don’t understand what it’s like,” Mistic said. “I’ve been middle class my whole life, but I’ve never felt that way.”
Prices for petrolGroceries and rent remain uncomfortably high for many Americans. The latest Consumer Price Index (CPI) released by the Labor Department showed that prices rose 0.2% in July from the previous month and 2.9% from the same period last year. However, the report marked the lowest inflation level since March 2021.
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Like voters of other age groups, the fight against inflation remains A central theme to Generation Z voters in November.
More than two-thirds of Americans According to a new US News poll from early July, 18- to 34-year-olds in seven swing states cited inflation and the cost of living as their most important problems.
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, criticized Kamala Harris’ “no holds barred” economic plan. (Getty Images/FOX Business/Photo Illustration/Fox News)
PARENTS DELAY PAYING BILLS AND BUYING FOOD FOR THE BACK TO SCHOOL
Both Vice President Kamala Harris and former President Trump have promised to reduce high prices for consumers if they win the election in November.
Harris reveals a price control plan that, according to her campaign team, should provide relief from high food prices.
The proposal would give the Federal Trade Commission and state attorneys general the authority to impose tough penalties on companies that set excessive prices for food and groceries.
Trump also explained his own economic plan at the Republican National Convention in July, which includes abolishing the tip tax, increasing tariffs on other countries and encouraging more oil drilling in the United States.
Fox News’ Jamie Joseph, Alec Schemmel and Megan Henney of Fox Business contributed to this report.
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