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Gloomy Job News For Young Americans

‘One In Three’ Underemployed, More Than Half ‘Disappointed,’ ‘Worried’ Or ‘Angry’ With The Obama Presidency

 

GALLUP: ‘A Disaster For… Younger Americans As A Group’

 

“Today’s slow economic growth is a disaster for those unemployed and underemployed as they look for jobs when so few new jobs are being created. For younger Americans as a group, this is a particularly acute issue.” (“One In Three Young U.S. Workers Are Underemployed,” Gallup, 5/9/12)

 

“…April has also brought gloomy job news for young Americans and underscores that this group has been struggling disproportionately for some time.” (“One In Three Young U.S. Workers Are Underemployed,” Gallup, 5/9/12)

 

“Thirty-two percent of 18- to 29-year-olds in the U.S. workforce were underemployed in April, as measured by Gallup without seasonal adjustment. This is up from 30.1% in March and is slightly higher than the 30.7% of a year ago.” (“One In Three Young U.S. Workers Are Underemployed,” Gallup, 5/9/12)

 

·         “Underemployment among 18- to 29-year-olds has hovered around 30% for most of the past year, showing no real improvement.” (“One In Three Young U.S. Workers Are Underemployed,” Gallup, 5/9/12)

 

“More Now Than at Any Time in Past Year Working Part Time, Looking for Full-Time Job. Another 18.4% of young adults in the workforce were working part time but wanting to work full time in April. This is up from 17.5% in March and 17.1% in April a year ago, and is the highest percentage of part-time young employees looking for full-time work seen during the past year.” (“One In Three Young U.S. Workers Are Underemployed,” Gallup, 5/9/12)

 

More Than Half ‘Disappointed,’ ‘Worried’ Or ‘Angry’ With The Obama Presidency

 

UNIVERSITY STUDY: “In a study to be released Thursday, the John J. Heldrich Center for Workforce Development at Rutgers University found that recent graduates are taking awhile to find work. Only 49% of graduates from the classes of 2009 to 2011 had found a full-time job within a year of finishing school…” (“For Most Graduates, Grueling Job Hunt Awaits,” The Wall Street Journal, 5/7/12)

 

AP: “The college class of 2012 is in for a rude welcome to the world of work. A weak labor market already has left half of young college graduates either jobless or underemployed…” (“1 In 2 New Graduates Are Jobless Or Underemployed,” The Associated Press, 4/23/12)

 

·         “…53.6 percent, of bachelor’s degree-holders under the age of 25 last year were jobless or underemployed…” (“1 In 2 New Graduates Are Jobless Or Underemployed,” The Associated Press, 4/23/12)

 

WSJ: “The U.S. labor market is in a malaise, but young adults are in crisis.” (“Generation Jobless: For Those Under 24, A Portrait In Crisis,” The Wall Street Journal, 11/7/11)

 

PEW: “…the lowest employment-to-population ratio for young adults since 1948.” (Pew Research Center, 2/9/12)

 

ABC NEWS: “A survey released Thursday showed that only 34 percent of 18-to-24-year-olds are ‘satisfied’ with the Obama presidency. More than half — 51 percent – said they were either ‘disappointed,’ ‘worried’ or ‘angry,’ according to the survey from the Public Religion Research Institute and Georgetown University’s Berkeley Center.” (“Bad Economy Puts Obama In Tight Spot With Young Voters,” ABC News, 4/20/12)

 

“Nearly 25 million adults live at home with their parents because they’re unemployed or underemployed…” (TIME Magazine, 2/14/12)

 

Gallup finds today, “Thirty-two percent of 18- to 29-year-olds in the U.S. workforce were underemployed in April, as measured by Gallup without seasonal adjustment. . . . Underemployment among 18- to 29-year-olds has hovered around 30% for most of the past year, showing no real improvement. . . . Young adults were more than twice as likely as those in older age groups to be underemployed in April. . . . Young adults continue to be much more likely than average to be unemployed . . . .”

 

Examining these results, Gallup writes, “Wall Street has generally viewed the government’s unemployment report for April as a negative for the U.S. economy. Gallup’s unemployment measures show that April has also brought gloomy job news for young Americans and underscores that this group has been struggling disproportionately for some time. Those aged 18 to 29 are more than twice as likely as those in any other age group to be underemployed. . . . Today’s slow economic growth is a disaster for those unemployed and underemployed as they look for jobs when so few new jobs are being created. For younger Americans as a group, this is a particularly acute issue. Nearly one in three young adults in the workforce are not now able to gain full-time job experience. This not only hurts them temporarily, but deprives them of the experience they need to get a better job in the future. It also deprives U.S. companies of the skilled and experienced workers they will need for their businesses to prosper in the years ahead.”

 

This news comes on top of recent reports that only half of graduates between 2009 and 2011 had found a full-time job within a year of leaving school, that last year over half of college graduates under 25 were unemployed or underemployed, and that “[n]early 25 million adults live at home with their parents because they’re unemployed or underemployed,” leaving The Atlantic to conclude, “It is, very simply, a tough time to be young.”

 

But instead of any real solutions, President Obama offers only campaign rhetoric designed at creating attacks on Republicans or excuses for why his policies have failed. Speaking on the Senate floor this morning, Senate Republican Leader Mitch McConnell said, “The cynicism here is breathtaking. Here’s a President who, in the morning, worked hand-in-hand with Senate Democrats to ensure that legislation to freeze interest rates on student loans wouldn’t pass– in the afternoon, giving a recycled speech in which he pleaded for an end to the very gridlock he was orchestrating. There’s perhaps no better illustration of how far this President has come from the heady days of his last campaign.”

 

He blasted Obama’s expand the government and shift the blame approach: “Let’s face it: there isn’t a problem we face that this President didn’t think government could solve. And despite all the evidence to the contrary, he still can’t seem to shake the idea that more government is the answer for what ails us. When the Stimulus failed, it wasn’t the government’s fault. It was the Republicans. When the health care bill caused health care costs to rise, same thing. When trillions are spent and the jobs don’t come, it’s ATM machines, it’s the weather, it’s bankers, it’s the rich, it’s Fox News. It’s anything other than the government.”

 

“The President,” Leader McConnell said, “seems to view government the way some parents view their children. It can do no wrong. So if there’s a problem to solve, a challenge to tackle, the solution is always the same: more government. And the results are always the same — a disappointment to be blamed on somebody, anybody, else.”

 

He asked, “Hasn’t the experience of the last three and a half years taught this President anything about the limitations of government action? Three and a half years and five trillion dollars later, there are nearly half a million fewer jobs in the country than the day the President took office. That’s not what most people would describe as a good return on investment. Yet that’s all we get: the same government-driven solutions he’s been pushing for three and a half years.”


About Tom White

Tom is a US Navy Veteran, owns an Insurance Agency and is currently an IT Manager for a Virginia Distributor. He has been published in American Thinker, currently writes for the Richmond Examiner as well as Virginia Right! Blog. Tom lives in Hanover County, Va and is involved in politics at every level and is a Recovering Republican who has finally had enough of the War on Conservatives in progress with the Leadership of the GOP on a National Level.

3 Responses to “Gloomy Job News For Young Americans”

  1. Kirk Teeters says:

    "…there are nearly half a million fewer jobs in the country than the day the President took office." Well, let's see… he allowed an extension of the Bush tax-cuts which went to the 'Job-Creators'. Why don't we ask THEM where the jobs are. (My money says that they're in India, China, etc… Americans have an innate distaste for slave wages.)

    • Tom White says:

      Actually, since the (as you call them) Bush Tax Cuts were already the law of the land, Obama "allowed" nothing. What he did was not raise taxes in a recession.

      However, the Obama Administration has created a new metric to measure the effect on employment of certain actions (or inaction's). He calls it "Jobs Saved".

      In reality, NOT raising the going rate by extending the "Bush" Tax Cuts saved jobs that would have otherwise been destroyed by the Obama Tax Hikes that didn't happen (Thanks George W.!)
      So, the money is not overseas, as you opine, rather, it is here, in America supporting "jobs saved".

      Most of us have a metric that we use that Obama does not want to hear. It is called "Jobs Destroyed". As Obama regulates coal and oil out of use, millions of jobs have been damaged or destroyed.

      And we could also count "Jobs that Never Materialized" which would count the jobs lost by the moronic "investment" in fake companies in the "Green" sector which were nothing more than a treasury funded payback to Obama donors.

      Trillions more in debt and nothing to show for it. Obama has surpassed even Jimmy Carter on the "Worst Presidents Ever" list.

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Tom White Says:

Nothing is more conservative than a republican wanting to get their majority back. And nothing is more liberal than a republican WITH a majority.

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