‘It’s never enough’: young Americans struggle to build financial independence as cost of living spikes Young adults are experiencing significant economic instability, struggling with a challenging entry-level job market and rising costs for essentials like housing, gas, and groceries. Many feel demoralized trying to establish independence without adequate resources or a clear path forward. This difficult economic period may have long-term negative effects on their careers and financial well-being, impacting their ability to plan for the future.

• Young people face the worst entry-level job market since the pandemic and significant economic instability.
• Over 80% of young adults (18-34) rate the economy as ‘bad’ or ‘terrible’.
• Rising costs of basic needs like gas and groceries, coupled with cuts to social safety nets, add to the challenges.
• Young adults report difficulty achieving traditional markers of adulthood, such as moving out and living independently.
• Economic ‘scarring effects’ from starting careers during downturns can have lasting negative impacts.
• Respondents cited Donald Trump (41%) and ‘corporate greed’ (31%) as primary blame for current economic conditions.
• Unique challenges for this cohort include pressure on resources, less reliable income, and difficulty connecting to work.