Even millennials are rethinking their allegiance to Barack Obama due to dismal economic progress.
The same young people that flocked to the polls in support of Obama in 2008 have lost confidence in the president's economic policies, research from the nonprofit, nonpartisan youth organization Generation Opportunity shows. Now, under a third of young adults approve of Obama's handling of youth unemployment.
Polling data compiled by Generation Opportunity finds that more than half of millennials (ages 18-29) say the United States is seriously on the wrong track, and a similar number says they are not optimistic about the nation's economic future.
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An economic report released last week painted a sad picture of any relief, reporting hiring slowed to a near-standstill in June and the unemployment rate rose to 9.2 percent, the highest rate of the year.
"Behind the numbers released are millions of stories of difficulty and sacrifice — and unlike some of the elected officials who represent them — this generation is not wired to merely settle for the status quo while their futures and the future of the nation remain at risk," says Generation Opportunity President Paul Conway.
Additionally, the organization shows that 77 percent of 18-29 year olds say that, given the current state of the economy, they have delayed or will delay buying a home, saving for retirement, paying student loans, starting a family, changing jobs or cities or making some other major life decision.
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