Youth Unemployment Continues to Rise – Don’t Forget It
OPS_admin | Dec 21, 2009 | Comments 0
Beware of reports that unemployment is getting better. Because for our nation’s future, it isn’t.
The LA Times reports:
For 20- to 24-year-olds, the jobless rate rose four-tenths of a percent to 16% in November, even as unemployment nationally slipped to 10% from 10.2%.
And data from the Labor Department show that the unemployment figure for college graduates in that age group was 10.6% in the third quarter — the highest since early 1983 and more than double the rate for older college-educated workers.
What’s scary is how long this could linger with our generation, even after this recession passes and unemployment begins recovery.
Eventually, things will probably get better for Daley and for classmates he said were having similar problems. After all, job and pay prospects for college graduates are generally stronger than for workers with less education. But studies also suggest that graduates entering the workforce in a recession see negative effects not only in the short term but for years into the future in terms of pay and career mobility.
Entry-level salaries are usually lower in tough times, and for most workers, where they start is one of the biggest factors in how much they’re earning a decade later. The slower start can also influence family formation and consumer spending on such things as cars and houses.
Full Story Youth Unemployment Continues to Rise – Don’t Forget It | Future Majority.
Filed Under: Economy - Labor
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If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
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