Young Americans Left Out Of Obama’s ‘Jobs Recovery’
Posted 08/02/2013 06:32 PM ET
A (New) Lost Generation:
As the media focus on a slight drop in unemployment, an ugly trend gets ignored: the declining participation of young Americans in the job market. We’ll pay for this for decades to come.
We keep hearing the job market is “improving” or even “solid,” with 162,000 new positions created in July and unemployment falling to 7.4%, the lowest since 2008.
But one group is sitting it out. And it’s the one that most enthusiastically embraced Barack Obama in both of his presidential elections: America’s young.
Their unemployment rate is a shocking 16.1%. Increasingly, those ages 18 to 29, the so-called millennials, are being left out of the market, with tenuous or no ties to the workplace. Just 43.6% of this group have full-time jobs, according to Gallup.
“Demonstrators in support of fast food workers protest outside a McDonald’s as they demand higher wages and the right to form a union without retaliation Monday, July 29, 2013, in New York’s Union Square. Activists say hundreds of workers have walked off their jobs. They are demanding a minimum wage increase and calling for better benefits. ((AP Photo/John Minchillo)”
Replace all fast-food cashiers with automation. Problem solved.
Fast Food Self-Ordering Replaces Cashiers
Video:
Published on Apr 10, 2013
Self-order kiosks use touchscreens to replace cashiers. Fast food chains implementing automated self-service
machines include McDonald’s, Burger King, Taco Bell and KFC.
http://www.youtube.com/watch?v=mfKbaX4jE9U
Robot Replaces Workers At Fast Food Restaurant
http://www.youtube.com/watch?v=vDJc1NoGg2g
U3 - 7.4%
U6 = 14.0%
U6 is the true measure of the economy’s employment/unemployment, from BLS. U3 is bullcrap.
http://www.bls.gov/news.release/empsit.t15.htm
Most HOAs in Texas limit one family per household. I wonder what’s going to happen about this? The courts have ruled that HOA agreements are legal and binding.