Echelon Insights’ tracker of generational views of the economy has, for the most part, shown that generations poll similarly on their views of the economy. Generally, boomers poll slightly higher and Gen-Z and millennials poll slightly lower. However, their recent poll showed that there is now a -62% net improving-getting worse among Gen-Z’s economic perspective, compared to every other generation that polled in the -30s range.
This marks a cratering of Gen-Z economic opinions, to a level not seen since 2023. It also marks the greatest generational divide, with older generations not seeing the same economic headwinds as younger ones. The median age for homebuyers in the US is nearly 60 years old, and the economic benefits that the Baby Boomer generation saw throughout their lives are not being passed down to younger people.
Gen-Z has consistently shown worry over its economic prospects. 68% have doubts that they will ever retire, and 35% cite AI as their top economic concern. Gen-Z individuals are worried about not just their current economic situation, but their future careers and livelihoods in the AI era.
These worries have also translated to political changes. 57% of those aged 18-34 say that capitalism does more harm than good, showing that these economic worries are causing another generation rift over economic policy. ~50% of Gen-Z views socialism favorably, compared to 30% of Baby Boomers.
If candidates want to win over Gen-Z, 71% of which say they don’t believe that the government represents them, they need to offer viable economic solutions. Gen-Z is a generation disaffected by American politics, but it is also one that is open to more radical views (such as socialism) than other generations before it.
Some politicians have been able to successfully galvanize Gen-Z voters. Candidates such as Zohran Mamdani (who won 78% of the Gen-Z vote) have used progressive populism to get young voters to the polls. The right has seen candidates like James Fishback (who has quadruple his opponents support among Gen-Z voters in Florida) win over Gen-Z with similar populism, only with an explicitly bigoted flavor.
Gen-Z voters are looking for candidates who do not fit into the mainstream party lines. They want people who know where to reach them, like social media savvy candidates such as Mamdani and Fishback.