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The coronavirus pandemic has left parents pessimistic about their children’s future, according to a survey by Pew Research.
More than two-thirds of American respondents (68%) say they believe today’s children will be worse off financially as adults than their parents, up from 60% in 2019. Only 32% believe children will be better off.
The global survey was conducted between February 1 and May 26 among 18,850 adults in 17 developed countries. The United States ranks sixth in pessimism about children’s financial futures, tied with Canada, behind Japan, France, Italy, Spain and Belgium.
When it comes to the current economic situation, 71% of Americans think it is bad, compared to 29% who think it is good.
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The children of the pandemic take a double hit virtual education and economic stagnation. When schools are closed, classes go online. result of Suffers a significant learning loss, which translates to a file Reduced lifetime incomeبStudies have shown.
The economic impact of the crisis is also affecting families across the country, leaving millions of Americans out of work. Even if it’s just slack It lasted two months – From February 2020 to April 2020, according to the National Bureau of Economic Research, Uneven recovery.
Employment rates for high-wage workers are recovering while employment rates for low-wage workers are not, said David Grosky, a professor of sociology at Stanford University.
“although epidemic The safety net has overcome some of the resulting inequalities, and these divergent employment trends suggest that there are still two countries in America, a thriving affluent America and a struggling America preparing to face more,” said Grosky, director of Stanford University Center on Poverty. and Inequality.
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“This is a very worrying warning sign for the future.”
It is certain that even before the pandemic, children were financially lagging behind their parents’ generation.
Over the past few decades, Groske said, there has been a rapid decline in the “American Dream,” which has long been understood as a commitment that each generation must do better than the previous generation.
Several studies support this. For example, a report by a non-partisan think tank New America I found that millennials earn 20% less What do people born at the same stage of life do?
The newspaper reported that “young people in America today are taking a much lower path of accumulating wealth than their predecessors.” “Very significant.”
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