A new Wall Street Journal-NORC poll paints a dim picture of Americans' faith in upward mobility. Just 25% of respondents believe they have a decent shot at improving their standard of living—a record low since the survey began in 1987. More than three-quarters of those who responded to the poll, which the Independent notes was "fittingly published" on Labor Day, expect that the next generation will fare no better, signaling a widespread loss of confidence in the American dream.
Almost 70% of those polled now say the idea that hard work pays off "no longer holds true or never did," the highest level of skepticism in more than a decade. The pessimism spans political and demographic lines. While Republicans are slightly less gloomy than Democrats—consistent with the tendency for the party out of power to hold a darker view—majorities across gender, age, education, and income levels express anxiety about their future prospects.
Despite recent improvements in how people rate the current economy, concerns linger. Inflation, job security, and the soaring cost of housing weigh heavily. Only 17% now view the United States as having the world's best economy, down sharply from just a few years ago. Many respondents across income brackets report feeling economically fragile, even when their finances are solid on paper.
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Since the pandemic, economic mood has soured, even as metrics like unemployment and the stock market suggest resilience. Economists suggest today's unease may be rooted less in current conditions and more in uncertainty about the future. A similar question in a July poll by Quinnipiac University found that 50% of respondents were also souring on the American dream, per the Miami Herald.
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