Posted on 10/11/2009 10:38:22 PM PDT by Steelfish
Recession Creating A Lost Generation High unemployment is damaging the future for America’s youth
Dan Schmitz, 25, a University of Wisconsin grad, hasn't had a job in months. [Pic in URL]
By Peter Coy
Oct . 11, 2009
Bright, eager — and unwanted. While unemployment is ravaging just about every part of the global workforce, the most enduring harm is being done to young people who can't grab onto the first rung of the career ladder.
Affected are a range of young people, from high school dropouts to college grads to newly minted lawyers and MBAs across the developed world from Britain to Japan.
One indication: In the U.S., the unemployment rate for 16- to 24-year-olds has climbed to more than 18 percent, from 13 percent a year ago.
For people just starting their careers, the damage may be deep and long-lasting, potentially creating a kind of "lost generation." Studies suggest that an extended period of youthful joblessness can significantly depress lifetime income as people get stuck in jobs that are beneath their capabilities, or come to be seen by employers as damaged goods.
(Excerpt) Read more at msnbc.msn.com ...
My sympathy level is very low on this subject. They got the Hope and Change(TM) they wanted.
That’s funny. My 21-year-old daughter just got a second job.
And she voted for Palin last year.
But wait until the next crime waves hits! Teen unemployment is the precursor to crime.
yes they did and now waiting for welfare....i dont see recovery happening ....
I hear the military is still hiring ... it’s how I got my start.
Isn’t this one of the groups that went for obma? Screw them, they got their hope and change,,,
My sis works with a 23 year old in the marketing department. In that department, the older guys were talking about how much they spent in graphics school and they went around and the tuition costs average around $5K to $15K.
The 23 year old when asked how much it cost him, he replied: “close to nothing, I guess”. The manager said, “how’s that possible”?
The kid replied (from what she heard): “I illegally downloaded (programs) and also downloaded the guide books as well from peer to peer, bittorrent etc. Then I studied them at home and practiced in front of my computer..”
Apologies- missed this post.
What a surprise (not). They voted for their own underemployment when they went gaga over 0bama at the polls last November. Wonder when ‘Generation X’ed Themselves Out’ will start picking up on Economics 101, if ever?
bump
No problemo. Worth another post. There were comments on the other one, though.
Kristen Lopez Eastlick, senior research analyst for the employer-backed Employment Policies Institute....points out that the 40 percent hike in the federal minimum wage over the past two years made it less appealing to hire young workers.
I worked at a big box store all through the Carter Depression years. Wasn't interested in politics much. Not at my age, 16-20 years old at that time.
Only recently have I marveled at how lucky I was to have a steady, albeit part-time job at that time. I had more than I deserved, blessed no doubt, and didn't realize it.
Those were bad years for a lot of people, but not this dumb young kid.
At that age, you just live. If nobody introduces you to politics....you just live.
Me and all my friends, we just lived. And had a lot of fun. We didn't have worries. We just made it though....somehow.
I didn’t read the article and was going to commrnt on the recent increase in minimum wage. Odd how the Free Market works. In spite of all the ways the gov’t. trys to make it not.
Those Dumb Ass young people who voted for hopey changey have themselves to blame. Every smart person knew that the very election of Obama would cause businesses to lay off and not hire.
The very fact that liberals have control will keep unemployment high, since businesses always stay on the sidelines because they fear increased costs, taxation, regulation, etc.
No jobs for at least 4 or 8 years!!!
Back then I had just started my Air Force career after enlisting in 1975.
I was on Titan II Missile Combat Crew and we were deep in the center of fighting the Cold War. The daily Intel briefings sometimes curled your toes and the Alerts were tough and dangerous (we were one of a handful of jobs authorized hazardous Duty Pay inside CONUS).
We were young and partied like heck off duty and pulled Alerts ten times per month and were all keenly aware of politics, both national and international.
They were really tough but good times.
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