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News Link • Economy - Economics USA

Economic Optimism Plummets Across Demographic Groups

Gallup results show that men are more optimistic than women and have been for 3 straight years. Difference is 0-5 points, currently 35 to 31. Many in the age group 18-29 are in school, believing a job will await them on graduation. After graduation the realities of monstrous student debt and poor prospects of jobs will dampen that optimism. Economic Ramifications Economically speaking, while those in the 18-29 group are most optimistic, that is the age group least able to afford to buy things. In contrast, those 50-55 are in their peak earning years. Those 65 and older have seen their cost of living rise and their income reduced. The stock market has not been kind over the course of a decade and many realize the next decade may be no better. Look for spending in this age demographic to be health-care and food-related as opposed to spending on cars, boats, and gadgets. Those 85 and up will be seeking to downsize their homes, but who are they going to downsize to? Thus, many in the 65+ age group have a legitimate worry they will "run out of money".

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