Unemployment For Young Americans Jumps To 52.2 Percent

New York Post:

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.

Read the whole story: New York Post

Comments

[John Robert]

Youth now has time to support Obama !!!

[JBGabriel]

I would note that politicians and church officials are also externalizing machines. However, rather than externalizing their costs of production they are externalizing their revenue stream; getting society to foot the bill for government safety net services and other costs for illegals while benefiting from increased party contributions and possibly increased membership.

[JBGabriel]

The following quote is taken from an article written by Charles Breiterman of NumbersUSA:

"Understanding the externality concept is essential to understanding why NumbersUSA has its roots in environmentalism. An externality is when the benefit or cost of a transaction is not reflected in the price arrived at by the buyer and seller when they enter into the deal. The benefit or cost is shifted onto society. When society receives a positive benefit from a private transaction, that is known as a positive externality"...."An example of a negative externality is pollution. Cars used to have no pollution controls. The buyer purchased the car, General Motors sold the car, and the rest of us had to breathe the polluted air. People got lung disease due to the sum effect of millions of private transactions. The cost of the pollution generated by the internal combustion engine was shifted onto society. With the passage of clean air legislation in the early 1970s, rather expensive pollution control features were added to cars in order to prevent pollution. By that action, cars buyers and sellers were required to pay money (in the form of higher costs of production and higher purchase prices of automobiles) to prevent the externality from being shifted onto society."

[Georgiapundit]

Thanks to the screwed up America our parents and grandparents left us. You guys really bought into this self-serving capitalism garbage!

[ObamaGirl1980]

Unemployment among the young and Wednesday's event - http://wp.me/pChUJ-4E - are they connected? Big business just isn't producing job opportunities.

[KarenT]

This article is a joke. If you go to the Dept. of Labor site, it states that unemployment amongst 16-24 year olds is 25.5%. What would expect from the NY Post?

[rockyb26]

no offense, but part of the problem for us millennials is that our baby boomer parents won't retire. it's not entirely their fault given W's economy and the destruction of their 401K's, but in the end, something's got to give. all of my friends have bachelor's degrees but none of them have jobs related to their field. most have started teaching just to make ends meet, which is totally unfortunate because they don't want to teach and their students deserve better than that.

young people (18-29) also make up 1/3 of the uninsured. in this regard, we're up against our grandparents who love having universal healthcare but are most likely to oppose everyone else getting it.

it's generational warfare and it's pretty sad.

[etiennemacchias]

If you read the comments left on the NYPost, they're all blaming Obama as if he took those jobs away.

Also, I think this is a good time for these young Americans with bright minds and creatives ideas to start their own businesses -- rather than "working for the man" for the rest of their lives -- and that's where true innovations starts: from desire, passion, hunger, drive, need...

[Buddy McCue]

Many would-be entrepreneurs stick with their dead-end jobs for the health benefits.

Real reform would free those young Americans with the bright minds and creative ideas to start their own businesses, and hire more people, and make the economy grow.

[DCBarrister]

Obama is continuing the Bush presidency. Period.

[USBrit]

Actually it would be a great time for those creative minds to start a new business - in another country where they won't be bankrupted before they even get started by health insurance costs.

[Sue-in-Jersey]

Clearly the only way that these unemployment figures would be true is if they count young folks who are in school and not necessarily even looking for jobs. Methodology questionable, says I.

[DCBarrister]

Spoken like a Bush/Cheney supporter looking to dispute the polls that had Bush's approval rating in the low 20s.

[Veri]

"There are six million small businesses in the country, those that employ less than 100 people, and a jobs stimulus bill should include tax credits to give incentives to those businesses to hire people..."

The stimulus has been spent. The oligarchs, who effectively are the government, took the money and ran. Leaving a crisis level of unemployment behind. What could possibly be the effect?

A large, disaffected population with revolutionary tendencies. This is dangerous. Any explosion in violence will be used by The National Security State to justify martial law. And for those conspiracy theorists out there who believe that internment camps exist, you are just weird.

America's population is so divided, to busy fighting each other to come together as a cohesive agent of change at the ballot box. If you can not effect change there, you will not be able to mount a successful revolutionary campaign against your (their) government.

Ideology, race, religion, are all used to divide you. You fall for it every time. Meanwhile, the theft of your wealth and your government are stolen from you. You have already lost. Face it. You have no leaders. You are disorganized. You only know how to vote for two wings of the same party. The Democratic wing or The Republican branch.

[MassInsanity]

They have us right where they want us, and they keep us under control by keeping us divided. People eat it up, libs and cons, they fall for it every time and if you're not one of us then you must be one of them. It's pathetic.

[blackjedi47]

If ya stand fer nuthin--Ya fall---
u know how the rest goes.....

[Viper]

Only 250 billion of the stimulus has been spent. It does include tax credits for small busineses.


But pls note there is excess capacity now... and you dont expand or hire when you have excess capacity...


regards

[Veri]

The question is, "What will small businesses do with their future tax credits?" Hire people in the future?

Of course, there is excess capacity. It needs to be unwound. Why is there excess capacity? The consumer is not consuming. Millions have lost their job and can not afford to consume.

If I am a small business owner, and business is not good, and I receive a tax credit, I will stick it in a bank. Mattresses should be safer. As the tax credit should be tied to employing someone, who will I employ if business is not good? No one.

[blackjedi47]

The music of defeat-- no. U keep it.

[Veri]

Only be realizing your weaknesses can you overcome them. The path to victory. Or the path to a better future. No sense in burying one's head in the sand.

[MadAppraiser]

An unemployment statistic of 52.2% in any segment of the American population exceeds crisis levels. America's domestic WAR ON UNEMPLOYMENT is long overdue!!! A jobless economic recovery is an obscene economic portrait that has an exorbitant political cost in the voting booth!!! As Washington politicians hat-up for their new lobbying careers after the jobless economic recovery everyone will realize the importance of mainstream American employment!!!

[underoath]

I'm out guy's but i leave you with this
http://www.youtube.com/watch?v=0GSu5b3cQZ4

[underoath]

Old school Underoath
http://www.youtube.com/watch?v=ENLw_1TK6Ms

[Viper]

Repugs think one man making 105K per hour is great, but dont want others to make 5 bucks an hour.

It boogles the mine! Thats one person making 21,000 times more than the wage they tkink should be done away with because it cost jobs, is too high?.

I have never seen so many poor repugs wanting to serve their rich slave masters. Talk about brain washed or brain dead... take your pick. I go for both.

If we are going to do away with Min Wage because it cost jobs (which it does not), then it makes perfect since to do away with child labor laws, the 40 hour work week ( it use to be 70 hours), holiday/sick pay and overtime, safe working conditions, FUTA, SUTA and workers comp..which is the way it was before unions and do away with all benefits since those must also cost many more jobs than just the min Wage!

Do thy even think about what they are saying?

Is that the America they really want. Thats what employers and unregulated markets gave us before Unions and a more active government.

regards

Regards


Regards

[PepeLepew]

Well, I'm out for tonight.
All the tro//s appears to have been slain. They were especially feisty today.
D @ mn you, Brett Favre. D @ mn your hoary hide to he//.
Here is my musical contribution. New album coming out next month!:

http://www.youtube.com/watch?v=GdZn7k5rZLQ

[centerline]

Later.

[XzibitX]

later my friend.

[Weirdwriter]

Toots sweet!

[underoath]

Peace