COVID-19 Fallout & The Millennials

The Wall Street Journal April 20, 2020 Online 10:34AM




“Coronavirus Deepens Millennials’ Feeling They Can’t Get A Break”. “One of the great aftershocks of the crisis will be its impact on the economic trajectory and political attitudes of people born in the 1980s and 90s”. By Gerald F. Seib

A typical college-educated millennial may have loaded up on student debt, worked hard possibly delaying-marriage, buying a -home or even a car. At a point when the future was "looking up" the COVID-19 pandemic and economic fallout hit. This most recent experience builds on Millennial's belief of falling behind their parent's economic achievements.

A recent WSJ/NBC poll indicates that 18-34 YO are most likely to have lost a job including health benefit or taken a cut in pay as a result of COVID-19. 28% of 35-49 YO feel the economy is good but only 13% of 18-34 YO agree and even though they don’t have positive feelings for Joe Biden they favor him 54%-31% over Donald Trump. After COVID-19 Millennials want change, want more from the Federal Government but aren’t that inclined to vote.

The Poll also evaluated opinion on reopening America. Overall 58% feel it’s too soon while 32% too long. Only 15% feel the economy will rebound in weeks, while 45% feel it will take months and 32% next year or longer.

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