New Yorkers Optimism Falls To Lowest Level In 20 Years

Fewer New Yorkers believe their lives will improve over the next five years. A few factors are playing major roles.

Are New Yorkers feeling hopeful about the future?

Not Really.

American Optimism Just Hit A 20-Year Low

A new Gallup poll found that just 59.2 percent of adults expect to have a high-quality life five years from now.

That's the lowest level recorded in nearly two decades of asking the question. Since 2020, future life expectations have dropped 9.1 percentage points, which translates to about 24.5 million fewer Americans feeling optimistic about their future.

How Gallup Measures Optimism

Gallup asks people to imagine a ladder with steps numbered from zero at the bottom to 10 at the top. The top of the ladder represents the best possible life for you, and the bottom of the ladder represents the worst possible life for you.

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People are asked two questions:

• Where are you standing today?
• Where do you think you will stand five years from now?

Right now, 62.1 percent of Americans say they are satisfied with their current life, which is actually up slightly from 2020. But that number is still below where it stood in 2017.

Over 50 Percent Are Struggling

Gallup also tracks who qualifies as “thriving.” To make that category, a person must rate their current life a 7 or higher and their life five years from now an 8 or higher.

Only 48 percent of Americans qualify as “thriving.”

According to Gallup, that's one of the lowest readings since 2008. The only times it was worse were during the Great Recession and at the beginning of the COVID pandemic.

Inflation and cost-of-living concerns appear to be major factors.