89 Percent of Young Adults Say the Poor Economy Impacts Daily Life, 84 Percent Say Key Life Decisions in Jeopardy
Only 38 percent say today's leaders represent their interests, while 76 percent intend to vote in the presidential election
WASHINGTON, Aug. 22, 2012 /PRNewswire-USNewswire/ -- Generation Opportunity, the largest non-profit, non-partisan organization in America engaging and mobilizing young Americans (18-29 years old) on the important economic issues facing the nation, released new polling data today on Millennials as the 2012 presidential election nears. Since its launch in June of 2011, Generation Opportunity has amassed a following of 4 million fans on Facebook and is actively organizing Millennials across the country through grassroots tactics, voter registration, and voter turnout efforts.
"These numbers should put elected leaders on notice. What you see is a very pointed story of the impact the failed policies coming out of the White House over the course of the last three years are having on the daily lives and the long-term plans of young Americans. Frankly, it is not a pretty picture – millions of young Americans are paying the price, in a very personal way, for failed leadership and failed policies," stated Paul T. Conway, president of Generation Opportunity and former Chief of Staff of the U.S. Department of Labor. "Millennials are savvy. They know national policies have personal impact – they feel it first-hand. So it is no surprise that so few believe their interests are being represented in Washington, and it is no surprise that they plan to make their voices heard this November."
For Generation Opportunity, the polling company, inc./WomanTrend, conducted a nationwide online survey of 1,003 American adults ages 18-29 between July 27 and July 31, 2012. This study has a ±3.1% margin of error at a 95% confidence interval, and sampling quotas were used to ensure the survey was representative of the larger 18-29 year old nationwide population with regard to race, region, and gender.
89% of young people ages 18-29 say the current state of the economy is impacting their day-to-day lives (Accepted multiple responses) (Randomized):
51% reduced their entertainment budget;
43% reduced their grocery/food budget;
43% cut back on gifts for friends and family;
40% skipped a vacation;
38% driven less;
36% taken active steps to reduce home energy costs;
32% tried to find an additional job;
27% sold personal items or property (cars, electronic appliances, or other possessions);
26% changed their living situation (moved in with family, taken extra roommates, downgraded apartment or home);
17% skipped a wedding, family reunion, or other significant social event;
8% none of the above (accepted only this response);
3% do not know/cannot judge (accepted only this response).
84% of young people ages 18-29 had planned to but now might delay or not make at all a major life change or move forward on a major purchase due to the current state of the economy (Accepted multiple responses) (Randomized):
38% - Buy their own place;
32% - Go back to school/getting more education or training;
31% - Start a family;
27% - Change jobs/cities;
26% - Pay off student loans or other debt;
25% - Save for retirement;
23% - Get married;
12% - None of the above (accepted only this response);
4% - Do not know/cannot judge (accepted only this response).
83% of young people ages 18-29 say that current economic conditions have impacted their summer plans (Accepted multiple responses) (Randomized):
53% cut back on entertainment and non-essential social spending like nice meals, spa treatments, bars, and going to the movies;
34% had to skip taking a vacation here in the United States;
25% will spend the summer looking for a job until one opens up;
24% had to work all summer without any vacations;
24% will spend the summer working a job they do not like just to make ends meet;
19% had to skip taking a vacation abroad to another country;
1% other, specified;
14% none of the above (accepted only this response);
3% do not know/cannot judge (accepted only this response).
64% of young people ages 18-29 believe the availability of more quality, full-time jobs upon graduation is more important than lower student loan interest rates.
76% believe that the lack of job opportunities is shrinking the American middle class.
Only 38% believe that today's political leaders reflect the interests of young Americans.
76% of Millennials plan to vote in the election for President this year.
Earlier this month, Generation Opportunity released the non-seasonally adjusted (NSA) unemployment data for Millennials for July 2012:
The youth unemployment rate for 18-29 year oldsspecifically for July 2012 is 12.7 percent (NSA).
The youth unemployment rate for 18-29 year old African-Americans for July 2012 is 22.3 percent (NSA);the youth unemployment rate for 18-29 year old Hispanics for July 2012 is 14.0 percent (NSA); andthe youth unemployment rate for 18–29 year old women for July 2012 is 12.6 percent (NSA).
The declining labor participation rate has created an additional 1.715 million young adults that are not counted as "unemployed" by the U.S. Department of Labor because they are not in the labor force, meaning that those young people have given up looking for work due to the lack of jobs.
If the labor force participation rate were factored into the 18-29 youth unemployment calculation, the actual 18-29-unemployment rate would rise to 16.7 percent (NSA).
ABOUT GENERATION OPPORTUNITY
Generation Opportunity is a non-profit, non-partisan 501 (c)(4) organization that seeks to engage everyone from young adults, to early career professionals, college students, young mothers and fathers, construction workers, current service men and women, veterans, entrepreneurs, and all Americans who find themselves dissatisfied with the status quo and willing to create a better tomorrow.
Generation Opportunity operates on a strategy that combines advanced social media tactics with proven field tactics to reach Americans 18-29. The organization's social media platforms – "Being American by GO," "The Constitution by GO," "Gas Prices Are Too Damn High," "Lower Taxes by GO," "Keep Texas Awesome," "Jersey Proud," and "We Like Small Government" on Facebook – have amassed a total fan base of more than 4 million. The pages post links to relevant articles and reports from sources ranging from the federal Government Accountability Office (GAO), to The New York Times, The Washington Post, The Brookings Institution, The Wall Street Journal, The Huffington Post, and The Heritage Foundation.