article

Nearly Half of Gen Z and Millennials Say We’re Already in a Recession

Since talks of a recession began, YPulse has been asking young consumers their thoughts, and more than ever say we’re already in one…

Written and Edited by the YPulse Editorial Team

Dec 15 2022
North America

KEY TAKEAWAYS

Over 90% of Gen Z and Millennials say we’re going into a recession in the near future, or are already in one
With so many saying we’re already in a recession, they plan to spend only on necessities—especially financially stressed Millennials
Young consumers are prepared to change their spending habits in nearly every category should we go into a recession

For months now, experts have been going back and forth on whether we’ve gone into a recession—and Gen Z and Millennials are torn on what to believe. For as long as they remember, recessions have only ever been major market crashes; Millennials came out of college into the Great Recession, and Gen Z have even told YPulse they don’t remember a time before the recession. Both gens experienced the quick, but intense, COVID crash. Now, as many predict a less extreme recession, young people aren’t sure exactly what to expect. But YPulse data shows that most do think a recession is coming—and many...