Democratic pollster Ken O’Brien said on Monday that millennials tend to be skeptical about the stock market because of their experiences during the Great Recession.
“We were in high school and college during the Great Recession, so there’s a significant amount of skepticism also in the stock market,” O’Brien told Hill.TV’s Joe Concha on “What America’s Thinking.”
O’Brien also said millennials appear less likely to set aside savings because they have debt.
“We look at this generation and people aren’t saving,” he said, adding that the lack of investing and saving by younger generations is not good for the U.S. economy in the long term.
An NBC News/GenForward survey earlier this year found that 62 percent of millennials owe more in debt than they have in savings, and that only 24 percent have more money in their savings account than they owe in debt.
Twenty-four percent of millennials polled said they don’t have any personal savings.
— Julia Manchester
Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.