The Economy Is Fine. So Why Does Everyone I Know Feel Broke?

The Economy Is Fine. So Why Does Everyone I Know Feel Broke?

Photo by Hennie Stander on Unsplash

Every time I open social media or turn on the news, I’m told the economy is doing great.

Unemployment is low.

The stock market is up.

Everything is apparently moving in the right direction.

So maybe someone can explain why everyone I know feels broke. Seriously.

I know people with master’s degrees who can’t find work. I know people who have been applying for jobs for months with little to show for it. I know people who are working full-time and still carrying credit card debt because groceries, rent, childcare, and healthcare keep getting more expensive.

And before anyone says it, yes, I understand that personal experience is not the same thing as national economic data. But at some point, when enough people are having the same experience, it’s worth asking whether we’re missing part of the story.

A few months ago, I lost my job. I have two master’s degrees and years of professional experience. I’ve managed departments, budgets, programs, projects, and staff. My job search reality? I’ve spent months applying for jobs.

I’ve rewritten my resume more times than I can count. I’ve networked. I’ve upskilled. I’ve optimized my LinkedIn profile. I’ve done everything career experts tell job seekers to do. And I’m still looking.

What’s interesting is that whenever I share my experience online, people flood the comments with their own stories; people who have submitted hundreds of applications. Individuals experiencing unemployment for a year or longer. Those who were willing to take pay cuts to return to work. People who are working jobs they’re wildly overqualified for because they need a paycheck.

If the economy is doing so well, why are so many people having the same conversation?

I think part of the problem is that we’ve confused employment with financial stability. They’re not the same thing.

Struggling financially is possible even when employed. Even with a master’s degree, you can still be struggling. You can have a decent salary and still be one emergency away from financial disaster: a car repair, a medical bill, a layoff, a rent increase.

One unexpected expense can completely change someone’s financial situation overnight. I think that’s where a lot of people are living right now. Not in poverty. Not in prosperity. Just somewhere in the middle, constantly trying to stay ahead of the next bill. And that’s a stressful place to be.

For years, we were told that if we got educated, worked hard, and built a career, we’d be secure. Not rich. Just secure. But I’m not sure that’s how many people feel anymore.

I think what people are actually reacting to isn’t the economy itself. It’s the growing gap between what they’re being told and what they’re experiencing.

They’re being told unemployment is low. Simultaneously, they are being told the economy is strong, yet talented individuals struggle to find employment. They are reviewing grocery receipts and questioning their high expenditure. They are being informed that everything is okay. They are checking their bank accounts and wondering if they can make it to next month.

The statistics might be accurate, but the lived experience is also real. Both things can be true at the same time.

The question isn’t whether the economy is technically good or technically bad. The question is whether people feel secure.

Because most people aren’t looking to become millionaires. Their goal is to pay their bills without anxiety. They’re looking to take a vacation without putting it on a credit card. They’re looking to lose a job without fearing that one setback could undo years of progress.

That’s what people mean when they say they’re struggling. Not that they’re expecting luxury. They’re looking for stability. And judging by the conversations I’ve been having lately, I don’t think nearly as many people feel stable as the headlines would have us believe.

What has your experience been? Do the economic headlines match what you’re seeing in your own life and career, or do they feel completely disconnected?