Jobs: A generation lost ?

Editorial in the WSJ today titled Meet Generation Jobbed

Punch line: With youth unemployment and underemployment at persistently high levels, “our kids are starting to look and sound like Europe’s smart kids—despondent and resigned.”

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Here are the facts underlying the conclusion …

 

The official unemployment rate for people in their late teens and post-college years is around 16%

…  add in those who’ve given up looking or taken jobs flipping hamburgers (underemployment) and their home-alone status moves the rate  up almost 10% to past 25%.

For young blacks — the most politically misled people in America—the out-of-work number is between 40% and 50%.

 

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A November analysis by Civicyouth.org at Tufts University noted that younger black males (age 18-24) have never been as excited about Barack Obama as women are. Not having a job could chill enthusiasm for any president.

Our kids are starting to look and sound like Europe’s smart kids—despondent and resigned.

Europe, awash in college diplomas, has had high youth unemployment for decades. It’s an established school of study for economists there. And they know the causes: a decline in economic growth made worse by regulatory thickets (with or without societal benefits), and entitlement obligations and tax regimes that drove the entrepreneurial instinct out of Europe. What remained were jobs in government bureaucracies.

Last month, the left-wing think tank, the Center for American Progress, published a study called “The High Cost of Youth Unemployment.” It’s worth reading.

The Center says that the problems creating a low-jobs generation include the costs of “government-provided health care, increased crime, and additional welfare payments.”

No kidding?

Perhaps we should address a couple of those, don’t you think?

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One Response to “Jobs: A generation lost ?”

  1. TK Says:

    Young blacks are the most politically misled people in America? Not sure what that means.

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