Economy Source of Fear & Anxiety Among Youth

JWT's February AnxietyIndex quantitative study examined attitudes around current events with a sample of both 18-29 year olds as well as a small sample of teens.

Young people are certainly feeling the effects of the recession, 77% are feeling nervous or anxious as a result of the economic conditions. Its nearly even with the overall 18 and over sample.

Teens, however, are a little less anxious but still 64% are. The difficult stat is the 46% of parents who don't think their teens are worried about the economic conditions. Unfortunatly, 71% of teens surveyed are more likely to have increased anxiety as a result of talking to their parents (the ones who don't think their kids are worried). Sixty percent draw anxiety from conversations with teachers about the economy.

When looking at the issues that concern most Americans and comparing it to youth, the economy is overwhelmingly the number one issue with cost of living following behind, and health care in a near third place. Where young people are even with the overall electorate is with their concerns about job security and our current military hostilities. Interestingly, few Americans have fears about the political leadership which probably accounts for the high job approval ratings for the President.

Closer examination about attitudes and anxieties that young people have - its interesting to see that 60% of young people feel like they are being dealt with unfairly during this recession. This makes some of the work that 80 Million Strong is doing even more important. The 80M project, if you haven't heard, is working to develop support among young people to lobby Congress and the White House to look at the economic conditions and job market from the youth perspective as well as the middle aged perspective - because youth unemployment is actually greater than overall unemployment. This, of course, while we shoulder obscene debt from college or predatory credit card companies.

Further, only 34% say their friends have interesting "entrepreneurial" jobs to make money, and 70% say most of the people their age are worried about the recession.

Check this one out. Due to the difficulties we're facing more teens are being forced to think about things normally left up to adults. This can have an interesting effect on youth as they grow as well. Ideally, they'll be more likely to be aware of their own financial situation and more aware of predatory credit card companies. But those choosing whether or not to attend college might put off such a huge purchase because they fear for their own financial stability.

Most encouraging is that while the top three fears of youth have to do with jobs after graduation, giving up things because of financial hardships, and concerns about their parents, the forth major concern is that the condition of the planet being left to their generation will be less than they feel they deserve. On the chart of concerns, this is actually the only ideological concern for teens. The others consisted of typical ego issues and economic hardship questions.

I think this gives some interesting room for Congress and the White House to work in the upcoming years. Not only are 18-29 year olds deeply concerned about the environment, but up and coming voters very seriously care about the condition of the planet. I think this might even put to bed any concerns about our environmental progress over the next several years. As Global Warming Deniers die off they'll be quickly replaced with strong environmentalists.

Finally, when looking at what things both young people and teens are willing to give up in tough economic times an overwhelming number said they couldn't give up their internet connection or cell phones, because they use it for social connectivity. Ninety percent of teens said they had to have an internet connection, and only 11% of 18-29 year olds said they'd be willing to give it up. Seventy-three percent of teens wouldn't give up their phones, and 89% of 18-29 year olds wouldn't. This also gives us a pretty strong picture of the best way to communicate with young people probably won't change for a long time. Online and cell phones were a major connection from campaigns and orgs this election, they'll only become more powerful with attitudes like this.

JWT is coming at this from a product and marketing perspective so ideas about anxiety among groups are important to them. Here's why they say things like fear is important:

"Fear is rising fast amid a worldwide recession that has corporations slashing jobs around the globe and many consumers unsure about making the next credit card or mortgage payment. Add a 24-7 media environment in which bad news spreads fast and repeats endlessly, and you have a highly anxious world—and tens of millions of consumers seeking guidance and assurance.

That’s why we believe anxiety matters. Anxious consumers look for brands that can give them a sense of control over their lives, whether that means staying within their budget at the supermarket or finding cheap alternatives to going out. Navigating consumer anxieties is not about exploiting fear. It’s about finding better ways to connect with consumers looking for trust, credibility and answers."

Products are no different than candidates and politicians. Those who can give comfort and trust in a time of crisis and help create a sense of control will be the most successful.