Imagine telling your grandparents that most Americans have given up on hard work as a path to a better life. They’d probably think you were joking. But that’s exactly where we are in 2025 — and the numbers are staggering.
A WSJ-NORC poll conducted in July 2025 found that nearly 70% of U.S. adults said the American Dream — the belief that hard work leads to getting ahead — either no longer holds true or never did. That’s the highest level of skepticism recorded in almost 15 years of surveys.
So what’s going on? And should we actually be worried?
The Numbers Tell a Bleak Story
Let’s break down what the data actually shows:
That last stat is worth lingering on. Back in mid-2022, nearly 70% of workers felt optimistic about finding a good job. That 42-point collapse in confidence? It’s the largest Gallup has recorded in four years.
Why Don’t Americans Believe in Hard Work Anymore?
Here’s the thing — it’s not that people have suddenly become lazy. The math just isn’t mathing for a lot of families.
Housing costs have skyrocketed relative to wages. According to FHFA data, home prices rose 74% between 2010 and 2022, while average wages climbed only 54% during the same window. In some states, the gap is even wider. Nevada saw home prices jump 162% while wages grew just 47%.
And it doesn’t stop at housing. Between December 2020 and December 2024, nominal wages rose about 17.3% nationwide — but prices climbed 21.2%. That 3.2% decline in real earnings means many Americans are working harder and bringing home less in purchasing power than they did before the pandemic.
Can you really blame someone for feeling disillusioned?
It’s Not Just a Partisan Thing — But Politics Play a Role
The pessimism cuts across nearly every demographic. Men and women, younger and older adults, and households above and below $100,000 in income all expressed doubt about upward mobility, according to Axios’s analysis of the poll.
That said, there’s a noticeable partisan split. About 90% of Democrats held a negative outlook on their economic prospects, compared to 55% of Republicans. This tracks with a long-standing pattern — whichever party holds the White House tends to see things a bit more favorably.
What Does This Mean Going Forward?
When people stop believing effort leads to reward, it doesn’t just affect mood. It changes behavior. Workers who feel trapped in dead-end positions don’t innovate, don’t take risks, and don’t push for something better.
Gallup’s workplace research shows that employee engagement dropped to its lowest level in a decade at just 31%, creating a drag on productivity and morale that employers can’t afford to ignore.
The fix isn’t simple. But affordable housing, wages that actually keep pace with costs, and genuine pathways to advancement would go a long way toward restoring what’s been lost.
FAQs
Do most Americans still believe in the American Dream?
No. As of July 2025, only 31% of Americans said they believe the American Dream — that hard work leads to getting ahead — still holds true.
What percentage of Americans think hard work no longer pays off?
Nearly 70% said the American Dream either no longer holds true (46%) or never did (23%), according to the WSJ-NORC poll.
Is economic pessimism in the U.S. worse than before?
Yes. Only 25% of Americans believe they can improve their standard of living, the lowest level recorded since 1987.
Why do Americans feel they can’t get ahead financially?
Rising housing costs, inflation outpacing wage growth, and declining job market confidence have combined to erode the belief that effort translates into upward mobility.
Does political affiliation affect belief in the American Dream?
It does. Around 90% of Democrats hold a negative economic outlook compared to 55% of Republicans, reflecting a pattern tied to which party controls the White House.