Young Adults Face Deepening Financial Independence Crisis

Generation Lab surveyed 1,000 U.S. adults 18-34. Over 80 % rate the economy as bad or terrible; 41 % blame President Donald Trump, 31 % blame corporate greed. 53 % say the cost of living is the worst they have ever experienced, and 74 % say it is “on the wrong track.” Gasoline prices are about 50 % above pre-war levels; 60 % of Americans say the cost of living is “on the wrong track”; President Trump’s approval is below 40 %; and the Center for Information & Research on Civic Learning and Engagement identified economic conditions as the top issue for young voters after the 2024 election.

Ipsos Polling

Entry-level jobs remain the weakest since the pandemic, while the Iran war that began Feb. 28 disrupted oil shipments, pushing gasoline prices about 50 % above pre-war levels and adding to inflation.

Poll: Most Americans Say Cost of Living Has Never Been Worse

Cloud Benn, 23, works two retail jobs, a tutoring role and pays rent in New Orleans, noting that “even if you plan it down to the penny, nine times out of 10, it’s never enough, especially in this economy.” In Florida, 21-year-old Shaniya Taylor says a recent Florida Power & Light rate hike makes “stepping into adulthood… feels scary.” PhD student Tanajia Moye-Green, 25, reports her fellowship barely covers expenses, adding that “ultimately when you’re a Black woman, there is no stability anywhere, especially in this day and age.”

The Guardian

Nia West-Bey of the National Collaborative for Transformative Youth Policy described a “confluence of long-term economic challenges on the income side and support side, now coupled with an increase in expenses on everything.” Kassandra Martinchek of the Urban Institute said the moment presents challenges not faced by earlier cohorts. White House spokesperson Kush Desai told Politico that President Trump has been upfront about “short-term disruptions” and expects conditions to improve once shipping through the Strait of Hormuz normalizes. Survey respondents blame President Trump and large corporations for the affordability crisis.

Poll: Most Americans Say Cost of Living Has Never Been Worse

• “It’s been rough for a long time,” — Nia West-Bey, executive director, National Collaborative

The Guardian

• “These [economic] scarring effects are really real, and have real staying power.” — Lindsay Owens, director, Groundwork Collaborative

The Guardian

• “Ultimately when you’re a Black woman, there is no stability anywhere, especially in this day and age,” — Tanajia Moye-Green, PhD student

The Guardian

Analysts expect cost-of-living concerns to shape the 2026 midterm elections, while diplomatic negotiations aim to extend a ceasefire in the Iran conflict and reopen the Strait of Hormuz, a step that could temper energy prices and related economic pressures.

Poll: Most Americans Say Cost of Living Has Never Been Worse