Tyler Schipper, an associate professor of economics and data analytics at the University of St. Thomas, spoke with Marketplace about why younger Americans remain more optimistic about the economy than older generations. Schipper explained how younger workers often view economic uncertainty differently because they have more time to adapt, build skills and benefit from future opportunities.
From the conversation:
No matter how rough the economy gets, younger people have what economists call the long-term hedge.
“Some of that optimism can also come from, ‘I'm young, I can build up these skills, I can succeed in this economy.’ And you can get optimism in that sense,” said Tyler Schipper, who teaches data analytics and economics at the University of St. Thomas.
If the economy is bad, a 20-year-old has time to adapt to major market disruptions. Today, that includes the introduction of artificial intelligence, for example.
“They also feel more likely that their employers are going to invest in them,” Schipper said.
