Only 54% Of Young Adults In America Have A Job
A month ago, Zero Hedge readers were stunned to learn that unemployment among Europe's young adults has exploded as a result of the European financial crisis, and peaking anywhere between 46% in the case of Greece all they way to 51% for Spain. Which makes us wonder what the reaction will be to the discovery that when it comes to young adults (18-24) in the US, the employment rate is just barely above half, or 54%, which just happens to be the lowest in 64 years, and 7% worse than when Obama took office promising a whole lot of change 3 years ago.
And while technically this means 46% are unemployed, or the same percentage as in Greece, the US ratio, which comes from Pew, shows the ratio as a % of the total population: a very sensitive topic now that every month we see another 250,000 drop off mysteriously from the total labor force. However, unlike those on the trailing age end, young adults by definition are the labor force in their age group demographic, so it would be difficult to explain away this horrendous number by claiming that ever more 24 year olds are retiring. Although, yes, we agree that some may be dropping out of the labor force in order to go to college, incidentally the locus of the latest credit bubble, where they meet a fate worse even than secular unemployment: they become debt slaves of the Federal System, with non-dischargable debt at that, which even assuming they can get a job would take ages to pay back!
But wait: there's more - of all age groups, this is the one that has actually seen its wages drop the most under the Obama administration.
So not only are they unemployed, young adults are at least poor.
Net result: double the change, zero the hope.
(11 votes)
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[ANNIE]
The sun'll come out
Tomorrow
Bet your bottom dollar
That tomorrow
There'll be sun!
Just thinkin' about
Tomorrow
Clears away the cobwebs,
And the sorrow
'Til there's none!
When I'm stuck a day
That's gray,
And lonely,
I just stick out my chin
And Grin,
And Say,
Oh!
</strikethrough>
A lot of my friends have abandoned Obama. And we're increasingly annoyed by emails asking us for money, when we're barely scraping by. dude has lost the youth vote
The reporters don’t give a shit about the 46% unemployment rate, all they are focused on is Obama’s re-election.
Would someone who knows these assholes please smack them up side the fucking head and knock some sense into their shit for brains. Fucking retarded morons.
Reporters just see that 46% of 18-24 year olds have plenty of time on their hands to campaign for Obama....
Thank goodness their parents are rapidly approaching 46% unemployment so they'll have someone to talk to at home.
OR 54% lives in Beverly Hills and lives in a sitcom, drives 7 cars for every day of the week and they all had sex with Paris Hilton and made a movie about it.
R-E-V-O-L-U-N-O-I-T
give me freedom or give me death
Kaiser/Celente2012
I was thinking this was bullish for xbox and ps3 sarc
Bullish for families!
If the majority of the youth vote for Obama again I will support any war that gets them killed.
And if the majority of old farts vote for Repulsive party candidate I will support any policy that gets them robbed.
(I parafrazed an old comment from ZeroHedge but do not recall the author)
In parallel they are also busy selling a new war, 46% of young adults is a lot of cannon fodder to dispose the way those really making decisions see it.
Shouldn't the headline be: "Only 54% of young adults want a job"?
Age: 25, Position: Store Manager. Degree: History (Incomplete, 102/120 credit hours)
I've got a buddy in law school and another who's making decent money as a personal trainer. The rest of my friends are either barely scraping by or just lazy as all fuck. I also used to trade in my free time till I found this site. Made some money with MCP and REE and got out before they collapsed (got lucky). Now I'm all physical. Thanks ZH!
Exactly. I never once saw a reporter interview a recent college grad and ask, "Have you looked for a job?"
Seems like they are just too good for "shit jobs," while they apply for the one they actually want. But then again, what some call "shit jobs" can pay a hell of a lot, but the stigma is just too hard for some to bear.
$200k and a BMW or bust!
There's that, and then there's the fact that employers don't really give a shit about your education either. They want experience. I worked at 7-Eleven for 3 years while I was in school. The retail experience has helped me so much more than my education has. Now I'm running a store and selling electronic cigarettes. Been in the business for a year and a half, and its not a bad business to be in. New industry, plenty of room for growth. It's cheaper than smoking and hell of lot healthier, so the bad economy is actually helping us. I put my time in and it's paid off. You gotta be willing to start at the bottom and work your way up. A lot of people aren't willing to do that and they blame everyone but themselves. Another thing people are not willing to do is adapt. I ride a motercycle and when it's raining, I take the bus. Gas prices don't bother me one bit.
Gas is actually a lot more affordable when you're not paying $120/month for a fucking iPhone 5GSXULTRA10GINCREDIBLE. Get a simple phone with unlimited texting/calling...bata-bing: $80 freed up for gasoline that was "tied up" in that awesome phone. 22 extra gallons per month simply by shifting a little money from one pocket to the other.
Of course that works great unless you drive an Excursion and enjoy that incredible 7 mpg highway but let's be honest... driving an affordable and efficient car from your apartment to your city job isn't realistic. You need that 48" lift and those $7,000/piece tires just to make sure you're "safe" because everyone knows cars are just so small.
What, we should help to help perpetuate this hopelessly corrupt, lawless, murderous system?
Fuck it, I'm doing as little as possible until the collapse.
Young people who voted for Obama wrecked thier own futures. They have no one to blame but themselves. But hey, a few TV shows show how cool it is to be an unemployed adult living in Mommy's Basement and how the girls just LOVE guys like that, should do it, right?
OBAMA2012 - FOUR MORE YEARS! (in Mommy's basement!)
Young people in our idiocracy don't vote. Fuck em.
Breaking News:
Barack Obama’s eligibility to be President?
Media organizations from all political persuasions are seeking admittance to a news conference to be held by Sheriff Joe Arpaio of Maricopa County, Ariz.
Media finally paying attention to eligibility? See which major networks plan on covering Cold Case Posse results
http://www.wnd.com/2012/02/media-finally-paying-attention-to-eligibility/
The event is tomorrow at 1 p.m. Mountain Standard Time in Phoenix, 3 p.m. Eastern, and will be live-streamed by WND.
I didn't vote because the choice was between a douchbag who dances around on stage singing "bomb bomb bomb Iran" and another douchbag who had never done anything in his life besides never showing up for votes in the Senate. I'm only voting this year if Ron Paul is on the ticket. And my mom loses the house if I move out and stop paying rent. And since that comment is directed at me, fuck you.
Have you ever thought of voting against all incumbent congress critters in the rare event you might go to vote? Of course not. You don't even know the definition of the word incumbent and don't even know there are other people to vote against on the ballot you moron.
I can name all 44 US presidents in chronological order. You think voting matters? Moron.
Kid, make a bumper sticker that says, "Churn The Congress Critters", and make a million bucks.
Quote me.
HAL, is that you?
Mr Paul you're recognized, your thorn in the flesh, for 3? minutes.
More like a bazooka.in the flesh for 3 minutes!
Financial Services Hearing Highlights Feb 29 2012
http://www.youtube.com/watch?feature=player_embedded&v=G7K9YASQ3do
I'm not just an interceptor of random cosmic thoughts.
Hope that wasn't too heavy for you.
irrelevant
michael, I appreciate your zeal in getting everybody to vote. particularly for RP
if you really have multiple personalities which make you answer your own comments, why don't you give every personality an own account? ;-)
If Ron Paul isn't on the Presidential ballot then vote for Gary Johnson, Libertarian Party 2012.
@FlyoverCountryS
When Obama was running for president in 2008 many young idealistic college students volunteered for his campaign. I asked a group of them if they realized U.S. corporations were outsourcing jobs they could do to workers overseas. They knew about outsourcing of jobs and didn't have an answer for it but felt Obama was the only choice they had at that time.
hope you are in technology, all other industries are controlled by the establishment
Homey D. Clown Don't Kiss the Man's Ring
http://www.youtube.com/watch?v=VaebXLxuxmY&feature=player_embedded
DormRoom, don't complain. You guys got the "hype and change" that you can really believe in. "Usefull iodiots" is what Vladimir Illiyich called them. In Lenins case, it was the Menshevicks and SRs that he referred to, in the modern day US, it is the kids that watch Jersey Shore and American Idiot. I will have to say, that if you are here on Zero Hedge, it is a start; however, if "dear leader" gets another term, it will Chavez with a vengeance. None of votes will matter then.
Go Obama!!!
Yeah.
Go Obama..go home to wherever you came from.
And do not let the door hit Michelle on the ass on the way out. We cant afford to repair it.
Comment by reefman on 2012-02-29 23:41:34
MASSIVE HIT PIECE ON FREEMAN MOVEMENT IN CANADA:
I am going to try to get SGS to make this an official post here because it is so important!
FROM NATIONAL CBC TV:
A Canadian Concern?
February 29, 2012News > TV Shows > The National
Adrienne Arsenault with the eye-opening story of a US anti-government group and why Canada needs to be concerned.
http://www.cbc.ca/video/#/News/TV_Shows/The_National/1233408557/ID=22039...
If the majority of the youth vote for Obama again I will support any war that gets them killed.
Ok, a funny comment, but I when are you stupid fucks gonna get over this vote for Obama bullshit. Who gives a fuck who they vote for. It's pretty much agreed that policy is non dependent on who is president. The whole election scam is just a circus show to make you idiots think you actually have a say. Newsflash. You don't.
Most of those finger pointing blame 'tards would much rather continue shoving their stinky finger in others faces.
Why? Due to the fact that, if they stop pointing they would need to make a decision of which they would be responsible for. Most are trained stupid, or just plain cowards.
100% correct; political ponzi election scam. Exception being Ron Paul.
Go Obama!
...back to Chicago...
That's the problem with federal politics. After the scumbags are kicked out of Washington, they eventually return home.
I'd like to believe mentally Illinois is a better place without him but it still sucks donkey here. 67% personal income tax increase and a 42% corporate income tax increase last year and Rham (the dual Israeli citizen) Emmanuel says we need to tax guns @ $60 each so the state can make more money.
I need to book one of those ZH hunting/canoeing trips many of you have already taken.
Obama should immediately apologize to these young adults because they might riot and it's the right thing to do.
Bullish private corrections facilities.
Lots of jobs for attractive females on backpage starting at $100/hr.
You must live on the coast. I just checked the listings in my city... lots of opening bids at $50, median is $80 on ads with prices in headlines. (Couldn't resist doing some statistical analysis on your little quip out of curiousity. This ties in with the story about 20-somethings paying student loans this way I read a month ago.)
And of course if you are willing to travel for work, say to the greek isles, you can earn upwards of $400 per hour
Who needs a job when you can make mad money trading LULU!
Is this bullish for housing? Unemployment, declining wages and student loan debt service for the next generation of home buyers? Tune in to Mad Money to find out!
I wonder, just for grins, what the UE rate for young-uns is in the parallel universe where John and Sarah are presiding over the economy. Is it any better or worse there? Somehow I think we'd be looking at approximately the same stats. Either the Prez is a useless stooge, or he has some power. One has to make up one's mind or all analysis is moot.
Spot on. I think most here are aware of this though which makes pointing it out every post unnecessary.
Did you read the fifty posts above that basically say the opposite?
One cannot state the obvious too many times, eh? 'Tis an easy mindset to take out one's frustrations on one guy who is easy to find and vilify. Sometimes I think that is the only function of the POTUS.
If they'd started a few more wars, they might've reactivated the draft by now, resulting in a huge employment boost.
I don't understand why you have to put Obama in there implying he is responsible.
We all know it would be the same no matter who was at the helm.
Let's try and be honest. The game is rigged.
I thought everyone here understood that truth.
Yeah but Obama is such a cunty douchebag, you gotta mention him.
Obama is just another nig trying to get Reperations for his people - no offense to good black folks like Lil Wayne and Reggie M
So sayeth a member of ZH for 4 weeks and a day.
How much does the DNC pay you for this sort of transparant bullshit?
Hint: Anybody who reads ZH and actually IS racist, is too smart to let it show here.
But then, the quality of person that they get for your sort of work is understandably lacking. So sad...
Now back to your moma's basement and to DU. Another usefull idiot! The real folks (read not troll) here at Zero Hedge don't give a damn if someone is green, red, brown or has terminal acne...we aren't hiring a guy to be pretty or PC. We want the truth and a way forward. Don't play the agent provocateur with us looser.
Look at the bipartisan support that Greenspan and Bernanke have. Their monetary policy was never challenged by Democratic OR Republican administrations. Look at the continuity in foreign policy from Bush to Obama. The party divide only matters with regard to domestic/social issues. On foreign policy, debt policy, monetary policy, the two parties de facto support a unified agenda.
Why do you care? Still attached to the two party con? Obama is a lieing political scumbag with no solutions, just like his republican counterparts.
God I hope more people start thinking like this
yeah that guy McCain would have been a lot bette <sarc>
http://www.bbc.co.uk/news/world-us-canada-17107815
Because when I read the comment boards of CNN, MSNBC, Politico, Yahoo, The NYT, and other news sites, it's full of dumbass comments basically saying things like:
1.) We need to vote in Obama for another 4 years, Republicans need to stay out of politics for at least 10 years.
2.) Obama inherited a mess and he saved our economy from the abyss.
3.) Republicans are so stupid.. and so is literally everyone else that isn't a Democrat.
4.) No one can fix our economy and lead us to universal healthcare or taxing exclusively the rich unless it's Obama.
5.) GO OBAMA, 4 MORE YEARS!
And other crazy shit. Go ahead.. read the comment boards of just about any "news" site on the internet and a lot of people in the comments section say this. Maybe it's astroturfed.. maybe it isn't. But oh well.. People will get what they deserve in this disgusting, filthy situation.
Newser.com is the absolute WORST for idiotic, Obama throne-licking comments. Simply awful.
And Fox News is... what? "Fair and Balanced"? Uh-huh. Just trying to keep the scales balanced here.
Did I mention Fox News? No. Stop deflecting.
ALL "news" organizations these days are biased.
Of the major ones, Fox is biased to the right, msnbc is biased to the left, as well as ABC, NBC and CBS.
I watch all of them - which I doubt you or many of you that bash Fox does. You probably hear from someone else that Fox is not fair and balanced, and parrot that above. Pretty sad.
I think Obama's signature legislation, Health care reform, has put more burdens on employers which discourages hiring. People in this demographic spend very little on health care. They would be better off with a job and no health care. I've named something specific he has done to hinder job growth, you name something he has done to encourage job growth, and not just since he said "I'm going to focus like a laser on jobs."
You know, like the one from the Death Star.
WOW!
Over 2.5 years on ZH and I thought I had seen massive FAILS before tonight ...
We have had some of the dumbest people in the universe put forward the most idiotic arguments ever seen.
You, my friend, have left them all in the dust. Did you spend the last 49 weeks waiting to roll this monumentally offensive line out?
"I don't understand why you have to put Obama in there implying he is responsible."
I would consider the remote possibility you are being snarky or sarcastic ... but the whole of your post speaks of a simple mindedness that is stunning in its magnitude.
Everyone is responsible for the choices they make. Obama, if he is just a stooge of "dark forces", has chosen to do their bidding.
In small words you might grasp, 'If you do evil, you are evil.'
This applies to someone like yourself that has to remember to breathe and apparently is unable to grasp the concepts of right & wrong; much less a higher order concept like reponsibility.
Please do the world a favor and discorporate at your earliest opportunity.
barliman
You are right, but what you have just said is only part of the truth. The thing is, shouting 'eff Obama' plays right into TPTB's hand, for the Republican alternative is equally going to be their puppet. They have succeeded in dividing people across partisan lines. You don't have freedom simply because you have a choice to vote for two puppets pre-selected for you by the establishment.
Every new President could arguably get a free pass for six months after taking office as he deals with whatever he inherited from the previous one.
But after that, he has to answer for his own actions 100%.
Forty years of pure evil can't be fixed in 6 months.
RR,
I'd go with fifty one years - but let's not quibble over a decade.
barliman
"The game is rigged"By whom is the game "rigged" pray-tell? The tooth fairy? The bankers control the $$ who do you think provides the muscle?
Milestones
Sure, it is rigged by O'Bammie.
That was the promised change. You thought it was going to be Chicago Pizza?
No, Baby, No.
It is Chicago Politics you voted for.
Well, along with a promise of higher energy costs.
Can O'Bammie deliver, or what?
Read 'Confidence Men' by Suskind and then tell me what you just said, again and with a straight face.
bullish, theres so much room to go for the remaining 46% debt slaves, i mean youth.
I'm 50 years "young" and lost my job too!
edit: oh, and Debt Bro doesn't need any help any losing, he is doing an excellent job himself and the help of his czars!
Exactly. Who needs to work when you can trade the IBD Top 50 for a living??
LOL...
I know lots of guys getting rich on AAPL, PCLN, etc.
Momofader lol.
He's not smart enough to fade it.
and they will all sell just before the crash
You're constant abuse of the teenage girl invented acronym LOL is surely intended as humor. right?
No offense dude but today is another day (still tracking at 100% consistency) where Robo has been proven right and all the angry comments on Zero Hedge have done nothing.
LOL?
Oh rly? Was that before or after the fact? Or was that your point?
My Great Aunt Orly came back onto Zero Hedge recently. But she seems to have gone away again. It would be nice to have her back.
just curious, does anyone use priceline? not sure how they continue to do so well with all the competition
It's all because of Captain Kirk!
Priceline dropped William Shatner and changed their business model.
But that news is boring. How about something more interesting - how do you sleep at night? Be honest and I'll be interested.
[Cue scratchy newsreel music and announcement]
Need a job bub? Wanna do good by your country and family?
Ask big sis for a leg up chum!
Join the Eagle Watch DHS Youth Brigade today!