Smells like low spirit: Gen X is the most economically pessimistic generation, report

Generation X has gone from the biggest hair to the biggest midlife crisis ever.The Slacker Generation is the most economically pessimistic, as members of the 40-and-50-something club go through middle age squeezed by growing expenses, as new report has found.The children of the 1980s have failed to find Regan-era optimism, as they have reported the lowest consumer confidence while beginning to contemplate retirement, according to a Conference Board study reported by Axios.One economist says that a typical midlife malaise could be a major contributing factor to the “forgotten generation’s” lack of economic nirvana.

Studies show that happiness usually follows a U-shaped curve in the course of our lives, with youthful happiness fading over time and bottoming out in the mid- to late-40s.The survey asked respondents whether they felt current US business conditions were good or bad and calculated a six-month average, with 100 indexed to the average in 1985.Gen Z and millennials aged under 35 had the highest overall consumer confidence, followed by Baby Boomers and then Gen X, which the report said were between ages 45 and 61.The six-month average of the Consumer Confidence Index for Gen X is down to 78 points, the lowest in at least four and a half years, with Boomers down to 83 points, the lowest since October 2021.Confidence readings for both groups have been in a steady decline since early 2025, data shows.Gen Z confidence rose slightly in April to just about 108 points, just a few points above Millennials.Gen X is stuck as the “sandwich generation,” caring for both aging Boomer parents and Gen Z children, Conference Board chief economist Dana Peterson told Axios.Gen X also feels unprepared for retirement, despite currently being in their peak earning years, with only 35% feeling prepared to financially support their parents and just 55% saying they feel they can financially support their children over the next few years, according to a report from Niels...