Posted on 09/22/2011 1:07:58 PM PDT by matt04
Young adults are the recession's lost generation.
In record numbers, they're struggling to find work, shunning long-distance moves to live with mom and dad, delaying marriage and raising kids out of wedlock, if they're becoming parents at all. The unemployment rate for them is the highest since World War II, and they risk living in poverty more than others - nearly 1 in 5.
New 2010 census data released Thursday show the wrenching impact of a recession that officially ended in mid-2009. There are missed opportunities and dim prospects for a generation of mostly 20-somethings and 30-somethings coming of age in a prolonged period of joblessness.
"We have a monster jobs problem, and young people are the biggest losers," said Andrew Sum, an economist and director of the Center for Labor Market Studies at Northeastern University. He noted that for recent college graduates getting by on waitressing, bartending and odd jobs, they will have to compete with new graduates for entry-level career positions when the job market does improve.
"Their really high levels of underemployment and unemployment will haunt young people for at least another decade," Sum said.
Richard Freeman, an economist at Harvard University, said young people "will be scarred and they will be called the `lost generation' - in that their careers would not be the same way if we had avoided this economic disaster."
(Excerpt) Read more at hosted.ap.org ...
The sad par is the people who were smart and didn't vote for Dear Leader are still getting screwed.
socialism takes big toll on world economy.
Last time I checked, life was hard for everyone.
just my thoughts.
i warned a 20-year-old friend before he voted for obama
that he was a socialist.
and my friend said, “what is a socialist?”
The left is prepping the country for the guaranteed minimum income.
20's and 30's ... prime age to marry and start a family. And many are post-poning this step until they have some security in their lives; and who can really blame them?
If the government would get off the backs of companies and get rid of all the regulations and permanently lower taxes, companies would start hiring. I would bet they would hire older, experienced people to begin with. Once their business started to pick up, they would hire the younger people and let the older ones train them. To hire young, inexperienced employees at this time is a waste of time and energy. Companies are going to have to move fast and hard. As I said, when things pick up, they will hire the younger ones.
I believe it. Publik Skoolz do not educate these days, they indoctrinate
It’s generally tough on anyone who doesn’t have a government job or a job in some big institution favored by government.
who’s gonna pay for that? fuggedaboudit!
That was 2010, things are much worse today. This is what America will look like unless big changes take place.
1) “Poverty” in America consists of 2 color TVs, 1 car, a coffee maker, a microwave, a playstation, etc. etc. etc. There is no reason for any American to go hungry nor to be homeless. The supports are all there.
2) Someone should cross-reference the degree programs of today’s college grads to their employment numbers. I am willing to bet the “Womyn’s Studies” degrees are skewing the numbers away from Business majors.
Women and minorities are hit the hardest, though, right?
Did you miss the part where these people are just "coming of age"?? These are still adolescents to leftists apparently. The institution of marriage is probably all but dead n a couple of generations the way the left is moving things.
pay for it? Why, its all free from the government!
/sarcasm
Lol. Silly me.
It seems that every college business course now has portion dedicated to eco-nuts and “diversity”.
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