By New York Post (Opinion) | Created at 2026-10-13 18:08:11 | Updated at 2026-10-13 19:40:37
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Pollsters and analysts are grappling with a new confounding trend: despite all the positive indicators in the stock market, the vast majority of young people think the economy is in terrible shape.
But, as a member of Gen Z, I’m not confused. It’s the AI, stupid.
On Sunday, the Wall Street Journal’s “What’s News” podcast reported that a full 80% of Gen Z think the economy is in bad shape. That’s in spite of double-digit growth in the Nasdaq and S&P this year and low unemployment.
I’d be willing to bet that a big part of that dissonance can be explained by the fact that young people are overwhelmingly stressed that the very AI companies propping up the stock market right now threaten their futures.
Young people are aware that virtually any field they enter could be turned upside down by AI before they establish themselves. Sure, the economy looks great on paper, but, to many young people, an AI boom feels like a personal bust.
Three in four Americans under 30 think that AI will lead to fewer jobs, and the majority are more concerned than excited about the technology, per an August Pew poll. And a May CNBC survey found that students are far more likely to be concerned about AI’s impact on the job market than current workers.
They aren’t just foolish luddites. Already a quarter of HR leaders say that their company has reduced entry-level hiring due to AI automation, and job searches are getting longer and longer.
A stock market rally is little comfort to young people concerned about the rise of AI — not only because they probably don’t have too many stocks themselves, but also because market gains are propped up by AI speculation.
NYU Stern professor and podcaster Scott Galloway made the chilling observation that, as of last October, stocks related to AI have accounted for 75% of the S&P’s return since 2022.
Reuters just reported that many stocks are actually suffering, in spite of the overall gains. The S&P 500 is up 14% so far in 2026, but more than 40% of its constituent stocks have fallen.
“I believe we’re either going to see a massive destruction in valuations, infecting all US stocks and global markets,” Galloway predicted. “Or we’re going to see a massive destruction in employment across industries with the highest concentrations of white-collar workers. Both scenarios are ugly.”
Any nimble politician should be sensitive to Gen Z’s economic anxiety, but the Trump administration is blowing past their concerns to champion the very technology so many of them fear.
“AI is gonna be a boon to the country,” Trump told Greta Van Susteren in April. “That industry will lead to unbelievable things and will lead to tremendous numbers of jobs.”
He’s since doubled down, meeting with big names in the industry to establish a Super Intelligence Force, and further declaring on Truth Social that anyone who “uses the term ‘artificial intelligence,’ as opposed to the highly accepted new and more accurate term, ‘super intelligence,’ [is] THE ENEMY.”
No wonder the majority of voters say that the administration isn’t taking AI risks seriously enough.
Trump made extraordinary gains with young voters in 2024 — 47% of voters under 30 broke for him, compared with just 36% in 2020 — but assuming they’re permanent fixtures of the Republican constituency would be a mistake.
According to the Journal’s polling, a whopping 73% of Gen Z disapprove of Trump’s performance, and about 16% of his voters in that demo now regret their choice.
Their views on the economy are an early indication that AI, SI, whatever you want to call it, is a losing bet with Gen Z — unless someone can address their fears. The random doomsday predications from Bill Gates and AI whistleblowers isn’t helping matters.
Hopefully Trump is right, and young people’s anxiety about AI will be proven unfounded. But, if he wants to keep the youth constituency together, Trump better start telling young people how AI will help their futures, rather than just insisting that anyone who questions “super intelligence” is THE ENEMY!
