Posted on 07/14/2012 5:23:43 AM PDT by tobyhill
Had the recession never happened, there would now be an additional 2.7 million jobs for young workers, according to a report this week.
Instead, there’s a Chicago-sized hole in the employment market for people between 16 and 24 years old, according to nonprofit, nonpartisan advocacy group Young Invincibles.
And there’s a good chance that gap will never close, to potentially devastating effect, according to the "No End in Sight?" report.
“The scary thing is that the recession may never end for young people,” said Rory O’Sullivan, policy director for the group, in a statement.
The current unemployment rate for young folk is at 16.5% -- double the national 8.2% rate. More than two in 10 Latino youth are jobless, while three in 10 black youth are unemployed, according to the Bureau of Labor Statistics.
(Excerpt) Read more at latimes.com ...
The big hole is created by all the illegal aliens Obama has let in. Now the black youth are jobless. Obama has sent them back into the ditch in favor of illegal aliens.
Obama’s idea of “employment” is working on the Dole Plantation. More people have gone on disability/food stamps by a wide margin than have gotten a job.
As a rule I do not employ teen talent but I have hired one teen girl (with parent and others present) as a model to try to perk up the stock footage portfolio. I made the decision based on a facebook post of the parent that I sort of know from other dealings. Otherwise I wouldn’t.
It is sad seeing good and decent kids with their parents being ground down.
Well of course it's his fault...but mostly the filthy pervert Bawney Fwank, and his partner in crime Chris Dodd, both of whom would be in jail if their actions had happened in the private sector.
All RATs should be held responsible, the progressive agenda openly attacks economic freedom at many levels, especially;
Destruction of the energy sectors; oil, coal, hydro, nuclear. This makes everything more expensive and kills jobs...
The health insurance industry this makes health insurance prohibitively expensive for both the employer and the self-employed...and kills jobs...
And, of course, to the topic of the thread, the lending industry.
What else would you expect to happen when the aforementioned RATs destroy the lending industry worldwide?
This is the lifeblood of business. And small business is around 90% of all economic activity in the US.
I’ve explained to some younger co-workers just how bad unemployment or underemployment is when you are younger. You start on the ladder later, at a lower rung. Unless you really scramble, the real price for this over a career is in the high hundreds of thousands of dollars. Same for “skipping a year” of a raise. When times are good, and you don’t get a raise, get a new job. Immediately.
The decades-long debate whether raising minimum wage hurts employment is over.
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