How's That Hopenchange Feel Now? Youth Unemployment Surges to Record High
How’s that hopenchange feel now?
(Social Capital Blog)
There are more unemployed youths in America today than at any other time since World War II.
Americans for Tax Reform reported:
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.”
“The number represents the flip-side to the Labor Dept.’s report that the employment rate of 16-to-24 year olds has eroded to 46.6 percent — the lowest ratio of working young Americans in that age group, including all but those in the military, since WWII.”
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.
Barack Obama took 68% of the youth vote in 2008.
Dr. Gina Loudon has this – Happy New Youth.