Youth Unemployment at 52.2% Post "Stimulus"

From Tim Andrews on Monday, September 28, 2009 10:22 AM

The New York Post yesterday ran with this staggering story on newly released figures from the Bureau of Labor Statistics:

"The unemployment rate for young Americans has exploded to 52.2 percent -- a post-World War II high, according to the Labor Dept. -- meaning millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time."

Almost fifty five percent of young Americans are unemployed. The figure is just mind-boggling. And yet the Administration continues to throw more of our money down the drain on this failed so-called 'stimulus'. Despite the fact that every country that has tried to spend its way out of a recession throughout history has failed. Without exception. And stimulus packages are failing all around the world now.

It is often said that the definition of insanity doing the same thing and expecting a different result. Let us hope the Administration faces reality and reverse its failed policies of the past.

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Lets not forget that the Minimum Wage also jumped this year to $7.25 per hour nationally (higher in some states). I'm sure that that had nothing to do with pricing unskilled young workers out of the market considering it is mostly teenagers who make minimum wage. Oh well, they don't need jobs, they can learn at a young age how to be unproductive and mooch off of others.
>> TCH Monday, September 28, 2009 10:55 AM Report Comment

Another point to make about this statistic is the fact that it includes students working part time, but seek to work full time. That jump in the minimum wage is most certainly preventing businesses from taking on more full time workers. It'll be interesting to see how the administration will respond to this.
>> John Connor Monday, September 28, 2009 12:23 PM Report Comment

The amounts that people going to college or graduate school is rising, the loans are given at higher interest rates, and the bills that these students are having to pay while in college are also skyrocketing at alarming rates. When and if they do find a job, they will unfortunately owe vast amounts of debt that were accrued during the process of getting a degree... not to mention the debt they will have to pay off for programs like the Stimulus; and quite possibly the Health Care legislation that may be forced through parlimentary measures within weeks. It's a a real shame that the government isn't looking out for the best interests of our future generation.
>> Mike Angelis Monday, September 28, 2009 2:13 PM Report Comment

Mike, Goods points except the last sentence. That is the mindset that has gotten us into all of these problems. The government job is not to look out for anyone's best interest. It is up to the individual to look out for his own best interest. The government only exists to protect people from force and coercion of others. I suppose if the government did provide only for the protection of individual rights it would be acting in the best interest of future generations, but that is not what most people think or mean when they hear or say that.
>> TCH Tuesday, September 29, 2009 2:18 PM Report Comment

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Youth Unemployment at 52.2% Post "Stimulus"

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