The spirit of the nation is fueled by the youth, but the policies enacted under the Obama administration are doing their best to shut that spirit out of the job market. Thanks to a historically unpredictable regulatory environment, a massive culture of over taxation, and a proven record of anti-job decisions, young college grads are being subjected to one of the driest job markets in recent memory. 2014 does not paint a rosy picture for recently graduated job-hunters.
Sadly, the dearth of jobs has an unacceptable number of new college graduates stuck in a seemingly endless loop of underemployment and unemployment. What students can expect to find upon graduation is a whopping 10.9 percent unemployment rate. These are highly educated individuals who stand to see their professional skills atrophy and whither in the face of low paying jobs.
Couple this with an average student loan debt of $27,000 and the picture gets much bleaker. Young people will necessarily have to change course to deal with ballooning student debts, at the expense of later success.
It is not just that there are few jobs out there; a big part of the problem is the actual work to be found. The Associated Press reports that “41 percent of graduates from top universities and 48 percent of those from other schools could not land jobs in their chosen field after graduation.” To be fair, however, there is not much that can be expected of an administration which attempts to raise taxes over 400 times. That kind of anti-growth tax record is bound to discourage businesses from hiring or expanding.
The hopelessness is beginning to seep into the politics of younger voters, a key Democratic constituency. According to Gallup, 49 percent of voters under 30 approve of the president, a significant 4 percent drop from their previous poll. While it is unlikely that these dissatisfied customers will rush to the polls to vote for Republicans, the drop is still represents a dark omen for Democrats in the 2014 elections.
Powerbrokers in Washington are failing the young. Without a major course-correction, increasing numbers of educated Americans will see dimmer future job prospects. With any luck politicians will reverse their over regulatory, over taxing, and over spending policies in favor of true pro-growth agendas. Or else, midterms are soon, and yesterday’s voters could find a reason to stay home to work on their resumes.
Photo Credit: JeepersMedia