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More people say standard of living is worse than parents’: poll

A new poll has found that more people say their standard of living is worse than, or even better than, their parents'.

of CBS News new poll Forty-six percent of Americans say their standard of living is worse than their parents', 33 percent say it's better, and 21 percent say it's about the same. Millennials and Gen Xers were the most likely to say their standard of living is worse than their parents, according to the poll.

According to the poll, 51% of those aged 30 to 64, 40% of those aged 65 and over, and 39% of those aged 18 to 29 said their standard of living was worse than that of their parents. When asked to describe the most difficult economic time in the United States, 39% of all respondents said the coronavirus government shutdown was the worst.

22% said the current post-pandemic economic situation was the most difficult economic time, while 17% cited the 2008 financial crisis and 8% cited the inflation and gas shortages of the 1970s.

Overall, the poll found that Americans are more likely to be pessimistic about the economy, despite many indicators that the economy is trending upward. When asked whether their income was keeping up with inflation, only 24% said it was, and 76% said it was not.

62% of respondents said the economy was in “bad” shape, while only 34% said it was “good.” Additionally, 27% said inflation is the most important problem facing the United States.

The poll was conducted among 2,144 adults interviewed between December 6 and 8, and had a margin of error of 2.8 percentage points.

Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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