Upward mobility is out of reach for younger generations, most Americans say

Americans are feeling gloomy about their prospects of achieving a higher standard of living, with about half saying it's become harder for them to move up the economic ladder, according to a new poll from the University of Chicago and AP-NORC. About 54% of respondents also said they don't think younger generations will top their parents' standard of living, the poll found. 

Owning a home and raising a family are cited as important life goals by about 7 in 10 Americans, yet these milestones are also seen as harder to achieve today by more than half of those polled, the study said. That pessimism could reflect ongoing headwinds created by the highest inflation in four decades, as well as a run-up in housing costs, said University of Chicago professor Steven Durlauf, who studies inequality and helped construct the study.

But the negative outlook also could reflect long-term economic trends in the U.S., including widening income and wealth inequality as well as wage stagnation for some types of workers, such as White men.